Onsemi Target of Unusually Large Options Trading (NASDAQ:ON)

Onsemi (NASDAQ:ON) saw unusually large options trading on Tuesday. Traders bought 24,502 call options on the company. This is an increase of approximately 21% compared to the average volume of 20,321 call options.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Large investors have recently made changes to their positions in the business. Greenleaf Trust increased its stake in shares of Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares in the last quarter. Meridian Financial Partners LLC raised its stake in Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after buying an additional 192 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 207 shares during the last quarter. Sentry Investment Management LLC increased its holdings in shares of Onsemi by 3.0% during the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 209 shares in the last quarter. Finally, CX Institutional raised its position in shares of Onsemi by 5.2% in the 3rd quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 232 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ON. Morgan Stanley reduced their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. BNP Paribas lowered their target price on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Mizuho decreased their price objective on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird increased their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Craig Hallum decreased their price target on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.68.

Onsemi Price Performance

NASDAQ:ON traded up $1.23 during mid-day trading on Tuesday, reaching $48.27. The stock had a trading volume of 5,756,983 shares, compared to its average volume of 9,354,555. Onsemi has a one year low of $46.57 and a one year high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a 50 day moving average price of $60.06 and a two-hundred day moving average price of $67.34. The stock has a market capitalization of $20.55 billion, a P/E ratio of 11.98, a P/E/G ratio of 10.27 and a beta of 1.62.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. As a group, analysts expect that Onsemi will post 3.99 earnings per share for the current year.

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.