Caxton Associates LP Invests $1.33 Million in Onsemi (NASDAQ:ON)

Caxton Associates LP bought a new position in shares of Onsemi (NASDAQ:ON) 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.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $1.33 earnings per share. The company’s quarterly revenue was down 17.2% on a year-over-year basis. On average, equities research analysts forecast that Onsemi will post 4.02 EPS for the current year.

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.