HighPoint Advisor Group LLC Invests $1.38 Million in Onsemi (NASDAQ:ON)

HighPoint Advisor Group LLC bought a new stake in Onsemi (NASDAQ:ON) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 16,567 shares of the semiconductor company’s stock, valued at approximately $1,384,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its holdings in Onsemi by 26.4% in the 4th quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock worth $592,000 after acquiring an additional 1,482 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 82,301 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after purchasing an additional 35,362 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 637 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after buying an additional 4,900 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

NASDAQ ON opened at $70.73 on Wednesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The firm has a 50 day moving average of $70.46 and a two-hundred day moving average of $74.76. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $30.43 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 3.22 and a beta of 1.71.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. Onsemi’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. As a group, research analysts expect that Onsemi will post 3.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ON shares. BNP Paribas reaffirmed an “underperform” rating and set a $55.00 target price on shares of Onsemi in a report on Friday, April 19th. Morgan Stanley dropped their price objective on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. KeyCorp cut their price objective on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Benchmark lowered their target price on Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, Jefferies Financial Group assumed coverage on Onsemi in a report on Monday, May 13th. They issued a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.28.

Insider Activity at Onsemi

In other news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Onsemi news, CFO Trent Thad sold 38,000 shares of Onsemi 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 transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now 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. Insiders own 0.31% of the company’s stock.

Onsemi Company Profile

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.