Susquehanna Fundamental Investments LLC Invests $14.73 Million in Onsemi (NASDAQ:ON)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Onsemi (NASDAQ:ON) during the second quarter, HoldingsChannel.com reports. The fund purchased 214,856 shares of the semiconductor company’s stock, valued at approximately $14,728,000.

A number of other hedge funds also recently modified their holdings of the business. TD Asset Management Inc raised its position in Onsemi by 112.2% in the 4th quarter. TD Asset Management Inc now owns 438,988 shares of the semiconductor company’s stock valued at $36,669,000 after buying an additional 232,136 shares during the last quarter. Stifel Financial Corp raised its position in Onsemi by 15.8% in the 4th quarter. Stifel Financial Corp now owns 122,528 shares of the semiconductor company’s stock valued at $10,235,000 after buying an additional 16,762 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new stake in Onsemi in the 4th quarter valued at approximately $237,000. Evoke Wealth LLC acquired a new stake in Onsemi in the 4th quarter valued at approximately $2,317,000. Finally, Scotia Capital Inc. bought a new position in Onsemi in the fourth quarter valued at approximately $2,596,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction 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 in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ON. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Truist Financial raised their price target on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. KeyCorp decreased their price target on Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.61.

Onsemi Price Performance

Onsemi stock opened at $74.39 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.67. The stock has a market capitalization of $32.00 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 3.74 and a beta of 1.66. The stock has a fifty day moving average of $72.43 and a 200-day moving average of $71.93.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. 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 previous year, the firm earned $1.33 EPS. Onsemi’s revenue was down 17.2% on a year-over-year basis. On average, sell-side analysts expect that Onsemi will post 4.01 earnings per share for the current fiscal year.

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.