Charles Schwab Investment Management Inc. Boosts Holdings in Onsemi (NASDAQ:ON)

Charles Schwab Investment Management Inc. lifted its holdings in Onsemi (NASDAQ:ON) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,404,589 shares of the semiconductor company’s stock after purchasing an additional 31,889 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Onsemi were worth $174,597,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in Onsemi in the 1st quarter worth $90,274,000. American Century Companies Inc. raised its stake in shares of Onsemi by 451.3% in the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after purchasing an additional 909,558 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares during the period. Dimensional Fund Advisors LP boosted its position in Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Onsemi by 66.4% in the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after buying an additional 574,900 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial dropped their price objective 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. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Wells Fargo & Company initiated coverage on Onsemi in a research note on Friday. They issued an “overweight” rating and a $85.00 target price on the stock. Morgan Stanley lifted their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, TD Cowen dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Trading Up 1.7 %

Shares of ON stock opened at $69.62 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The company’s 50-day moving average price is $70.21 and its 200-day moving average price is $71.79. The stock has a market cap of $29.64 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 7.34 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its quarterly 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. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 EPS. As a group, equities analysts predict that Onsemi will post 4 earnings per share for the current 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.