AQR Capital Management LLC Purchases 304,083 Shares of Onsemi (NASDAQ:ON)

AQR Capital Management LLC grew its position in shares of Onsemi (NASDAQ:ON) by 50.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 904,058 shares of the semiconductor company’s stock after purchasing an additional 304,083 shares during the quarter. AQR Capital Management LLC owned approximately 0.21% of Onsemi worth $61,964,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ON. TD Asset Management Inc raised its position in Onsemi by 112.2% in the 4th quarter. TD Asset Management Inc now owns 438,988 shares of the semiconductor company’s stock worth $36,669,000 after purchasing an additional 232,136 shares during the period. Stifel Financial Corp grew its stake in shares of Onsemi by 15.8% during the fourth quarter. Stifel Financial Corp now owns 122,528 shares of the semiconductor company’s stock valued at $10,235,000 after buying an additional 16,762 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in shares of Onsemi in the fourth quarter worth about $237,000. Evoke Wealth LLC bought a new stake in shares of Onsemi in the 4th quarter valued at about $2,317,000. Finally, Scotia Capital Inc. purchased a new stake in Onsemi during the 4th quarter valued at about $2,596,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Onsemi Trading Up 1.5 %

NASDAQ ON opened at $74.39 on Friday. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.67. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $72.43 and its 200-day moving average price is $71.93. The stock has a market cap of $32.00 billion, a P/E ratio of 15.18, a P/E/G ratio of 3.74 and a beta of 1.66.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. As a group, equities analysts forecast that Onsemi will post 4.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ON has been the topic of a number of analyst reports. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Truist Financial lifted their target price on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $92.00 price target on shares of Onsemi in a research report on Thursday, June 13th. TD Cowen raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of “Hold” and an average price target of $85.61.

Onsemi Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.