Caxton Associates LP bought a new position in shares of Onsemi (NASDAQ:ON – Free Report) in the first quarter, Holdings Channel reports. The firm bought 18,084 shares of the semiconductor company’s stock, valued at approximately $1,330,000.
A number of other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Onsemi in the 4th quarter worth approximately $32,000. MeadowBrook Investment Advisors LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. Private Wealth Management Group LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. Westside Investment Management Inc. boosted its holdings in 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 during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Onsemi in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.
Onsemi Stock Performance
Shares of NASDAQ:ON traded down $3.51 on Tuesday, hitting $74.76. The company’s stock had a trading volume of 4,915,154 shares, compared to its average volume of 6,890,026. The stock’s 50-day moving average is $72.63 and its two-hundred day moving average is $73.19. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The company has a market capitalization of $32.16 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87.
Insider Activity at Onsemi
In related news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction 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 transaction, 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 available at the SEC website. Also, CFO Trent Thad sold 38,000 shares of the 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 approximately $24,074,193.95. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on ON shares. Truist Financial upped their price target on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Rosenblatt Securities upped their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday. B. Riley restated 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. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Finally, BNP Paribas reiterated an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.96.
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.
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