Dimensional Fund Advisors LP Buys 665,633 Shares of Onsemi (NASDAQ:ON)

Dimensional Fund Advisors LP boosted its stake in Onsemi (NASDAQ:ON) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,217,221 shares of the semiconductor company’s stock after acquiring an additional 665,633 shares during the period. Dimensional Fund Advisors LP owned 0.98% of Onsemi worth $289,088,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors purchased a new stake in Onsemi in the 4th quarter worth about $697,276,000. Norges Bank bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $418,102,000. Swedbank AB purchased a new stake in shares of Onsemi during the 1st quarter valued at approximately $90,274,000. American Century Companies Inc. boosted its holdings in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after buying an additional 909,558 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in Onsemi by 35.6% in the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock valued at $249,717,000 after buying an additional 785,305 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $71.42 on Wednesday. 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 $30.59 billion, a PE ratio of 14.58, a PEG ratio of 3.72 and a beta of 1.66. The company’s fifty day moving average is $73.17 and its 200 day moving average is $72.35. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.69.

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

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the 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 of the company’s stock, valued at approximately $59,515,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated 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 owns 840,620 shares in the company, valued at approximately $59,515,896. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the 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 completion of 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ON shares. JPMorgan Chase & Co. raised their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Truist Financial lifted their target price on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Roth Mkm increased their price target on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. Three 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 an average target price 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.