First Eagle Investment Management LLC Buys 3,292 Shares of Onsemi (NASDAQ:ON)

First Eagle Investment Management LLC raised its stake in Onsemi (NASDAQ:ON) by 42.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,012 shares of the semiconductor company’s stock after buying an additional 3,292 shares during the period. First Eagle Investment Management LLC’s holdings in Onsemi were worth $755,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC boosted its position in shares of Onsemi by 1.7% during the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after purchasing an additional 164 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. Covestor Ltd boosted its position in shares of Onsemi by 24.5% during the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 190 shares in the last quarter. Greenleaf Trust boosted its position in shares of Onsemi by 4.4% during the 1st quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock valued at $392,000 after purchasing an additional 226 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of Onsemi by 4.2% during the 1st quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock valued at $431,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Insiders Place Their Bets

In other Onsemi news, 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 sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction on 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 directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON opened at $69.57 on Friday. 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 company has a market capitalization of $29.80 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 3.77 and a beta of 1.66. The stock has a 50 day moving average of $72.85 and a 200 day moving average of $72.18. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.67.

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

Analysts Set New Price Targets

Several brokerages recently commented on ON. Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Roth Mkm increased their price target on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. TD Cowen increased their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Susquehanna increased their price target on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Onsemi currently has an average rating of “Hold” and a consensus target price of $85.61.

Onsemi Company 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.