Profund Advisors LLC Raises Stock Position in Onsemi (NASDAQ:ON)

Profund Advisors LLC boosted its position in shares of Onsemi (NASDAQ:ONFree Report) by 16.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,788 shares of the semiconductor company’s stock after buying an additional 9,026 shares during the quarter. Profund Advisors LLC’s holdings in Onsemi were worth $5,245,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Onsemi by 8.6% in the 3rd quarter. HighTower Advisors LLC now owns 86,992 shares of the semiconductor company’s stock valued at $8,098,000 after acquiring an additional 6,878 shares during the period. Cornerstone Advisors LLC purchased a new stake in shares of Onsemi in the 3rd quarter valued at approximately $576,000. E Fund Management Co. Ltd. raised its stake in shares of Onsemi by 46.9% in the 3rd quarter. E Fund Management Co. Ltd. now owns 11,509 shares of the semiconductor company’s stock valued at $1,070,000 after acquiring an additional 3,675 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Onsemi by 4.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 152,391 shares of the semiconductor company’s stock valued at $14,165,000 after acquiring an additional 6,533 shares during the period. Finally, Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Onsemi in the 3rd quarter valued at approximately $270,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ON has been the topic of a number of research analyst reports. TD Cowen reduced their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. BNP Paribas restated an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a report on Friday, April 19th. Wells Fargo & Company dropped their price objective on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Morgan Stanley dropped their price objective on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Finally, Rosenblatt Securities dropped their price objective on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $90.28.

Get Our Latest Analysis on ON

Onsemi Stock Down 1.5 %

Shares of Onsemi stock traded down $1.18 during trading hours on Thursday, hitting $75.04. The company had a trading volume of 4,777,456 shares, compared to its average volume of 6,995,558. The company’s 50-day moving average is $70.25 and its two-hundred day moving average is $74.70. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The company has a market cap of $32.28 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 3.35 and a beta of 1.71.

Onsemi (NASDAQ:ONGet Free Report) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. Analysts anticipate that Onsemi will post 3.83 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

About Onsemi

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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