Baron Wealth Management LLC Purchases 318 Shares of Onsemi (NASDAQ:ON)

Baron Wealth Management LLC increased its stake in shares of Onsemi (NASDAQ:ON) by 3.8% during the third quarter, HoldingsChannel.com reports. The firm owned 8,661 shares of the semiconductor company’s stock after buying an additional 318 shares during the period. Baron Wealth Management LLC’s holdings in Onsemi were worth $629,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Natixis Advisors LLC lifted its stake in shares of Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares during the period. Assenagon Asset Management S.A. grew its holdings in Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after purchasing an additional 88,496 shares during the period. Axxcess Wealth Management LLC bought a new stake in Onsemi during the first quarter valued at about $808,000. Comerica Bank boosted its stake in shares of Onsemi by 21.1% in the first quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after acquiring an additional 17,198 shares during the period. Finally, Deltec Asset Management LLC purchased a new stake in shares of Onsemi in the second quarter worth about $1,212,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

ON has been the topic of a number of recent research reports. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Robert W. Baird upped their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial lowered their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Onsemi stock opened at $66.48 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $70.37 and its 200 day simple moving average is $71.87. The firm has a market capitalization of $28.31 billion, a PE ratio of 16.50, a P/E/G ratio of 6.94 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, equities research analysts predict that Onsemi will post 4 EPS for the current fiscal year.

About Onsemi

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.