Deltec Asset Management LLC Takes $1.21 Million Position in Onsemi (NASDAQ:ON)

Deltec Asset Management LLC purchased a new stake in Onsemi (NASDAQ:ON) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,682 shares of the semiconductor company’s stock, valued at approximately $1,212,000.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC boosted its stake in shares of Onsemi by 35.2% in the second quarter. V Square Quantitative Management LLC now owns 5,916 shares of the semiconductor company’s stock valued at $406,000 after buying an additional 1,541 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Onsemi by 10.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,723 shares of the semiconductor company’s stock worth $1,009,000 after purchasing an additional 1,424 shares during the period. Cox Capital Mgt LLC acquired a new stake in Onsemi during the second quarter worth about $963,000. Wedmont Private Capital bought a new position in Onsemi in the 2nd quarter valued at about $189,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Onsemi by 4.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,504 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 348 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Onsemi Stock Performance

ON traded down $1.83 during trading hours on Wednesday, hitting $71.08. The stock had a trading volume of 5,063,939 shares, compared to its average volume of 7,004,648. The company’s fifty day simple moving average is $72.27 and its 200 day simple moving average is $72.98. Onsemi has a 1 year low of $59.34 and a 1 year high of $101.30. The stock has a market cap of $30.58 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31.

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

Insider Buying and Selling at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Insiders sold 69,850 shares of company stock valued at $5,236,119 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ON has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Evercore ISI began coverage on shares of Onsemi in a report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target for the company. Citigroup downgraded 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 report on Monday, July 15th. B. Riley reaffirmed a “buy” rating and issued a $103.00 target price (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Finally, Roth Mkm boosted 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. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.