Pacer Advisors Inc. Grows Position in Onsemi (NASDAQ:ON)

Pacer Advisors Inc. raised its stake in shares of Onsemi (NASDAQ:ON) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,692 shares of the semiconductor company’s stock after purchasing an additional 13,412 shares during the quarter. Pacer Advisors Inc.’s holdings in Onsemi were worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Blue Trust Inc. grew its position in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 1,119 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Onsemi by 9.9% in the fourth quarter. AlphaMark Advisors LLC now owns 9,958 shares of the semiconductor company’s stock worth $628,000 after buying an additional 897 shares during the period. Olstein Capital Management L.P. bought a new stake in Onsemi during the 4th quarter valued at $4,792,000. Exchange Traded Concepts LLC boosted its position in Onsemi by 10.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,129 shares of the semiconductor company’s stock valued at $260,000 after buying an additional 375 shares during the period. Finally, Inspire Investing LLC grew its holdings in Onsemi by 3.0% in the 4th quarter. Inspire Investing LLC now owns 56,966 shares of the semiconductor company’s stock worth $3,592,000 after acquiring an additional 1,639 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ON has been the subject of several recent analyst reports. Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th. Morgan Stanley upped 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. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Loop Capital began coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two equities research 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.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $81.70.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Down 0.9 %

NASDAQ:ON opened at $53.27 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a market cap of $22.68 billion, a P/E ratio of 13.22, a P/E/G ratio of 10.62 and a beta of 1.64. Onsemi has a fifty-two week low of $51.81 and a fifty-two week high of $85.16. The firm has a 50-day simple moving average of $62.92 and a two-hundred day simple moving average of $68.57.

Onsemi (NASDAQ:ON) last announced 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. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was down 19.2% compared to the same quarter last year. Analysts predict that Onsemi will post 4 earnings per share 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.