Strategic Global Advisors LLC lessened its stake in onsemi (NASDAQ:ON – Get Rating) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,342 shares of the semiconductor company’s stock after selling 1,544 shares during the quarter. Strategic Global Advisors LLC’s holdings in onsemi were worth $2,141,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in shares of onsemi during the 2nd quarter valued at about $25,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of onsemi in the 3rd quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. acquired a new position in shares of onsemi in the 3rd quarter worth approximately $37,000. CoreCap Advisors LLC bought a new stake in onsemi in the second quarter valued at $49,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in onsemi during the second quarter worth $54,000. 96.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Credit Suisse Group began coverage on shares of onsemi in a report on Tuesday, November 15th. They set a “neutral” rating and a $83.00 price objective on the stock. Raymond James lowered shares of onsemi from an “outperform” rating to a “market perform” rating in a report on Thursday, March 2nd. They noted that the move was a valuation call. Citigroup increased their price objective on shares of onsemi from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, Piper Sandler increased their price objective on shares of onsemi from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Seven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, onsemi currently has a consensus rating of “Moderate Buy” and an average price target of $88.84.
Insider Buying and Selling at onsemi
In other news, EVP Simon Keeton sold 4,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $80.00, for a total transaction of $320,000.00. Following the completion of the transaction, the executive vice president now owns 209,781 shares in the company, valued at approximately $16,782,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.
onsemi Trading Up 1.6 %
NASDAQ ON opened at $84.44 on Thursday. The firm has a market capitalization of $36.48 billion, a P/E ratio of 19.55, a PEG ratio of 4.84 and a beta of 1.74. The business has a fifty day simple moving average of $73.88 and a 200 day simple moving average of $69.59. onsemi has a 12 month low of $44.76 and a 12 month high of $87.55. The company has a current ratio of 2.78, a quick ratio of 2.00 and a debt-to-equity ratio of 0.49.
onsemi (NASDAQ:ON – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.08 billion. onsemi had a return on equity of 42.09% and a net margin of 22.85%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. On average, analysts predict that onsemi will post 4.42 EPS for the current fiscal year.
onsemi announced that its Board of Directors has authorized a share buyback program on Monday, February 6th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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.
