Gulf International Bank UK Ltd Boosts Holdings in Onsemi (NASDAQ:ON)

Gulf International Bank UK Ltd grew its stake in shares of Onsemi (NASDAQ:ON) by 4.7% in the first quarter, Holdings Channel reports. The fund owned 37,113 shares of the semiconductor company’s stock after acquiring an additional 1,656 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Onsemi were worth $2,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ON. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi in the 4th quarter valued at about $32,000. Private Wealth Management Group LLC purchased a new position in shares of Onsemi in the fourth quarter worth about $33,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $33,000. Headinvest LLC purchased a new stake in shares of Onsemi during the 3rd quarter valued at approximately $44,000. Finally, Planned Solutions Inc. bought a new position in Onsemi in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In other news, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s 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 transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, 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. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. B. Riley restated a “buy” rating and set a $103.00 target price (down previously from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Truist Financial dropped their price objective on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Rosenblatt Securities reduced their target price on Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, KeyCorp reduced their price objective on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. One research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.28.

Onsemi Stock Up 1.3 %

Shares of NASDAQ ON opened at $68.52 on Friday. The stock has a market capitalization of $29.48 billion, a P/E ratio of 13.98, a PEG ratio of 3.08 and a beta of 1.71. Onsemi has a one year low of $59.34 and a one year high of $111.35. The firm’s 50 day simple moving average is $70.46 and its two-hundred day simple moving average is $74.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87.

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