Onsemi (NASDAQ:ON) Shares Acquired by APG Asset Management US Inc.

APG Asset Management US Inc. increased its position in shares of Onsemi (NASDAQ:ON) by 82.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 238,229 shares of the semiconductor company’s stock after purchasing an additional 107,741 shares during the quarter. APG Asset Management US Inc. owned 0.06% of Onsemi worth $16,481,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark boosted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Susquehanna boosted their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.61.

Onsemi Price Performance

ON opened at $69.65 on Thursday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a 52-week low of $59.34 and a 52-week high of $95.67. The company has a 50 day moving average of $72.43 and a two-hundred day moving average of $71.97. The company has a market cap of $29.84 billion, a P/E ratio of 14.21, a P/E/G ratio of 3.74 and a beta of 1.66.

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, topping the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were 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 in the company, valued at $59,515,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Simon Keeton sold 30,939 shares of the company’s 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 in the company, valued at $18,011,310.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.