Apollon Wealth Management LLC Acquires 4,569 Shares of Onsemi (NASDAQ:ON)

Apollon Wealth Management LLC raised its stake in shares of Onsemi (NASDAQ:ON) by 75.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,652 shares of the semiconductor company’s stock after acquiring an additional 4,569 shares during the quarter. Apollon Wealth Management LLC’s holdings in Onsemi were worth $773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ON. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi during the 3rd quarter worth $33,000. Jensen Investment Management Inc. lifted its position in shares of Onsemi by 20.1% during the third quarter. Jensen Investment Management Inc. now owns 40,710 shares of the semiconductor company’s stock valued at $2,956,000 after buying an additional 6,820 shares during the last quarter. Sanctuary Wealth Management L.L.C. lifted its position in shares of Onsemi by 5.0% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 23,166 shares of the semiconductor company’s stock valued at $1,682,000 after buying an additional 1,100 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Onsemi by 9.0% in the 3rd quarter. Atria Investments Inc now owns 15,316 shares of the semiconductor company’s stock valued at $1,112,000 after buying an additional 1,268 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its position in shares of Onsemi by 8.3% in the 3rd quarter. Carmel Capital Partners LLC now owns 23,689 shares of the semiconductor company’s stock worth $1,720,000 after buying an additional 1,814 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Stock Down 3.4 %

Shares of ON stock opened at $64.76 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market cap of $27.57 billion, a P/E ratio of 16.07, a P/E/G ratio of 7.34 and a beta of 1.65. The stock has a 50 day moving average of $70.43 and a 200 day moving average of $71.86. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. As a group, sell-side analysts expect that Onsemi will post 4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ON shares. JPMorgan Chase & Co. raised their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial decreased their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Loop Capital started coverage on Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

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.