Wahed Invest LLC Acquires 371 Shares of Onsemi (NASDAQ:ON)

Wahed Invest LLC raised its stake in Onsemi (NASDAQ:ON) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,361 shares of the semiconductor company’s stock after acquiring an additional 371 shares during the quarter. Wahed Invest LLC’s holdings in Onsemi were worth $615,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ON. Provence Wealth Management Group bought a new position in Onsemi in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi during the fourth quarter worth $32,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Onsemi in the fourth quarter worth $33,000. Private Wealth Management Group LLC acquired a new stake in Onsemi in the fourth quarter valued at $33,000. Finally, Hanseatic Management Services Inc. bought a new position in Onsemi during the 3rd quarter worth $38,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Trent Thad sold 38,000 shares of the 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 sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ON has been the subject of several recent research reports. BNP Paribas reissued an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research note on Friday, April 19th. Benchmark decreased their target price on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Jefferies Financial Group assumed coverage on shares of Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Rosenblatt Securities decreased their price objective on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Finally, B. Riley restated a “buy” rating and issued a $103.00 target price (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Onsemi Trading Down 1.7 %

Shares of Onsemi stock opened at $70.73 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $30.43 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 3.28 and a beta of 1.71. The stock has a fifty day simple moving average of $70.46 and a 200 day simple moving average of $74.79. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 earnings per share. On average, sell-side analysts anticipate that Onsemi will post 3.83 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.