Optimum Investment Advisors Sells 1,500 Shares of Onsemi (NASDAQ:ON)

Optimum Investment Advisors decreased its holdings in Onsemi (NASDAQ:ON) by 36.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,600 shares of the semiconductor company’s stock after selling 1,500 shares during the period. Optimum Investment Advisors’ holdings in Onsemi were worth $189,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ON. Creative Planning increased its stake in shares of Onsemi by 35.9% during the third quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock worth $2,170,000 after purchasing an additional 7,888 shares during the period. CX Institutional increased its stake in shares of Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 232 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Onsemi by 22.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 657 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Onsemi by 675.6% during the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock worth $273,000 after purchasing an additional 3,270 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of Onsemi by 17.3% during the third quarter. Inspire Investing LLC now owns 55,327 shares of the semiconductor company’s stock worth $4,017,000 after purchasing an additional 8,147 shares during the period. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ON shares. KeyCorp reduced their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup downgraded Onsemi from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Finally, Benchmark increased their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.83.

Onsemi Trading Up 0.3 %

Shares of ON stock opened at $69.24 on Friday. The firm has a market capitalization of $29.79 billion, a P/E ratio of 14.13, a P/E/G ratio of 3.81 and a beta of 1.65. Onsemi has a twelve month low of $59.34 and a twelve month high of $90.60. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $72.14 and its 200 day simple moving average is $71.46.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. As a group, sell-side analysts predict that Onsemi will post 4.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,939 shares of company stock valued at $2,626,651. 0.31% of the stock is currently owned by company insiders.

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.