Simmons Bank Grows Holdings in Onsemi (NASDAQ:ON)

Simmons Bank grew its holdings in Onsemi (NASDAQ:ON) by 24.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,139 shares of the semiconductor company’s stock after purchasing an additional 3,808 shares during the period. Simmons Bank’s holdings in Onsemi were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ON. Private Wealth Management Group LLC bought a new position in shares of Onsemi during the fourth quarter valued at approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at $33,000. Westside Investment Management Inc. raised its position in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Onsemi during the 1st quarter worth $45,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% during the second 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. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

ON has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Rosenblatt Securities raised their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. B. Riley reissued a “buy” rating and issued a $103.00 price target (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Finally, Truist Financial upped their price objective on shares of Onsemi from $85.00 to $97.00 and gave the company 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.61.

Onsemi Price Performance

Shares of NASDAQ ON traded down $1.43 during midday trading on Wednesday, hitting $74.63. The stock had a trading volume of 4,736,316 shares, compared to its average volume of 6,918,804. The company has a market capitalization of $32.11 billion, a PE ratio of 15.52, a P/E/G ratio of 4.07 and a beta of 1.69. The stock has a 50 day simple moving average of $72.72 and a 200-day simple moving average of $73.01. Onsemi has a 1 year low of $59.34 and a 1 year high of $101.30. 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 (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, sell-side analysts expect that Onsemi will post 4.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onsemi 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 transaction 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 $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Simon Keeton sold 30,939 shares of Onsemi 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 in the company, valued at $18,011,310.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Trent Thad sold 38,000 shares of Onsemi 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 transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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.