Meeder Advisory Services Inc. Buys 576 Shares of Onsemi (NASDAQ:ON)

Meeder Advisory Services Inc. grew its stake in shares of Onsemi (NASDAQ:ON) by 13.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,759 shares of the semiconductor company’s stock after buying an additional 576 shares during the period. Meeder Advisory Services Inc.’s holdings in Onsemi were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Westside Investment Management Inc. grew its holdings in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 550 shares during the period. Fidelis Capital Partners LLC acquired a new position in Onsemi in the first quarter valued at about $45,000. Massmutual Trust Co. FSB ADV raised its position in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC bought a new position in shares of Onsemi during the 2nd quarter valued at about $43,000. Finally, Oakworth Capital Inc. bought a new stake in Onsemi during the 2nd quarter worth approximately $53,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ON has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. KeyCorp dropped their price target on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Roth Mkm increased their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, StockNews.com lowered shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.61.

Onsemi Stock Performance

NASDAQ:ON opened at $71.72 on Monday. Onsemi has a 1-year low of $59.34 and a 1-year high of $98.07. 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 has a market cap of $30.86 billion, a P/E ratio of 14.64, a PEG ratio of 3.79 and a beta of 1.66. The stock has a 50 day simple moving average of $73.27 and a 200 day simple moving average of $72.41.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Research analysts anticipate that Onsemi will post 4.01 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.