Centaurus Financial Inc. Purchases 1,494 Shares of Onsemi (NASDAQ:ON)

Centaurus Financial Inc. lifted its position in shares of Onsemi (NASDAQ:ON) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,723 shares of the semiconductor company’s stock after acquiring an additional 1,494 shares during the quarter. Centaurus Financial Inc.’s holdings in Onsemi were worth $1,146,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ON. Sanctuary Advisors LLC bought a new stake in shares of Onsemi during the second quarter worth approximately $4,360,000. Regal Investment Advisors LLC raised its position in shares of Onsemi by 1.2% during the 2nd quarter. Regal Investment Advisors LLC now owns 49,213 shares of the semiconductor company’s stock valued at $3,374,000 after acquiring an additional 606 shares during the last quarter. Second Line Capital LLC acquired a new position in shares of Onsemi in the 2nd quarter valued at $2,203,000. NewEdge Advisors LLC boosted its position in shares of Onsemi by 5.9% in the 2nd quarter. NewEdge Advisors LLC now owns 26,674 shares of the semiconductor company’s stock worth $1,829,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Onsemi by 11.2% during the second quarter. Creative Planning now owns 21,991 shares of the semiconductor company’s stock worth $1,507,000 after purchasing an additional 2,215 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ON. Bank of America increased their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. KeyCorp cut their price target 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. TD Cowen boosted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Rosenblatt Securities lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.61.

Onsemi Trading Down 1.7 %

NASDAQ ON opened at $70.33 on Friday. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock’s 50 day moving average price is $72.32 and its two-hundred day moving average price is $71.74. The stock has a market capitalization of $30.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 3.99 and a beta of 1.66.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

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

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.