Elo Mutual Pension Insurance Co Has $2.69 Million Position in Onsemi (NASDAQ:ON)

Elo Mutual Pension Insurance Co decreased its holdings in Onsemi (NASDAQ:ON) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,211 shares of the semiconductor company’s stock after selling 143 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Onsemi were worth $2,688,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Onsemi during the 1st quarter valued at about $45,000. Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Onsemi in the second quarter valued at about $43,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Onsemi during the second quarter worth approximately $53,000. 97.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on 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 sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Onsemi Price Performance

ON opened at $73.35 on Friday. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.69. 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 has a market cap of $31.56 billion, a P/E ratio of 15.02, a P/E/G ratio of 3.72 and a beta of 1.66. The company has a fifty day simple moving average of $73.01 and a 200 day simple moving average of $72.27.

Onsemi (NASDAQ:ON) last released its quarterly 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 net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, research analysts expect that Onsemi will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark raised their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America lifted their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Rosenblatt Securities increased their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. KeyCorp reduced their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of “Hold” and an average price target of $85.61.

Onsemi 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.