Exchange Traded Concepts LLC Acquires 3,270 Shares of Onsemi (NASDAQ:ON)

Exchange Traded Concepts LLC increased its holdings in Onsemi (NASDAQ:ON) by 675.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,754 shares of the semiconductor company’s stock after purchasing an additional 3,270 shares during the period. Exchange Traded Concepts LLC’s holdings in Onsemi were worth $273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mediolanum International Funds Ltd bought a new stake in Onsemi in the first quarter valued at approximately $2,447,000. Assenagon Asset Management S.A. grew its holdings in Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after acquiring an additional 88,496 shares during the last quarter. Norden Group LLC purchased a new position in shares of Onsemi in the first quarter valued at about $774,000. Axxcess Wealth Management LLC bought a new position in shares of Onsemi during the first quarter valued at about $808,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Onsemi by 42.9% during the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after purchasing an additional 7,820 shares during the period. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the sale, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is owned by corporate insiders.

Onsemi Trading Down 1.1 %

Shares of NASDAQ ON opened at $68.49 on Monday. The firm’s 50 day moving average price is $72.09 and its 200-day moving average price is $71.43. Onsemi has a 52-week low of $59.34 and a 52-week high of $90.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The company has a market cap of $29.34 billion, a PE ratio of 15.60, a P/E/G ratio of 3.90 and a beta of 1.65.

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

Wall Street Analysts Forecast Growth

ON has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Bank of America lifted their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark raised their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Rosenblatt Securities increased their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.74.

About Onsemi

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.