International Assets Investment Management LLC Buys Shares of 634 Onsemi (NASDAQ:ON)

International Assets Investment Management LLC purchased a new position in shares of Onsemi (NASDAQ:ON) in the second quarter, Holdings Channel.com reports. The firm purchased 634 shares of the semiconductor company’s stock, valued at approximately $43,000.

Several other institutional investors have also made changes to their positions in ON. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Onsemi by 1.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,687 shares of the semiconductor company’s stock valued at $2,995,000 after purchasing an additional 535 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Onsemi by 2.2% during the second quarter. Crossmark Global Holdings Inc. now owns 19,108 shares of the semiconductor company’s stock worth $1,310,000 after buying an additional 403 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Onsemi by 0.9% in the second quarter. Principal Financial Group Inc. now owns 539,364 shares of the semiconductor company’s stock worth $36,973,000 after buying an additional 4,728 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Onsemi by 53.5% during the 2nd quarter. HB Wealth Management LLC now owns 4,869 shares of the semiconductor company’s stock worth $334,000 after acquiring an additional 1,697 shares in the last quarter. Finally, Iridian Asset Management LLC CT increased its holdings in shares of Onsemi by 43.2% during the 2nd quarter. Iridian Asset Management LLC CT now owns 73,689 shares of the semiconductor company’s stock valued at $5,051,000 after acquiring an additional 22,214 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

NASDAQ ON opened at $70.25 on Friday. Onsemi has a twelve month low of $59.34 and a twelve month high of $101.30. 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 $30.22 billion, a P/E ratio of 14.34, a PEG ratio of 4.18 and a beta of 1.66. The company’s 50-day simple moving average is $73.51 and its 200 day simple moving average is $72.81.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. As a group, research analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group began coverage on Onsemi in a research report on Monday, May 13th. They set a “buy” rating and a $100.00 target price for the company. Rosenblatt Securities lifted their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Roth Mkm upped their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Onsemi in a research note on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi presently has an average rating of “Hold” and an average price target of $85.61.

Insiders Place Their Bets

In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi 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 completion of the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.