Hassane El-Khoury Sells 1,500 Shares of Onsemi (NASDAQ:ON) Stock

Onsemi (NASDAQ:ON) 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 completion of 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 legal filing with the SEC, which can be accessed through this link.

Onsemi Stock Down 1.1 %

NASDAQ:ON opened at $70.64 on Thursday. The stock has a fifty day simple moving average of $73.13 and a 200-day simple moving average of $72.29. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a market cap of $30.39 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66. Onsemi has a twelve month low of $59.34 and a twelve month high of $95.69.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in Onsemi by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after purchasing an additional 35,362 shares during the period. Mediolanum International Funds Ltd purchased a new position in Onsemi during the first quarter valued at approximately $2,447,000. Assenagon Asset Management S.A. raised its stake in Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after buying an additional 88,496 shares in the last quarter. Norden Group LLC purchased a new stake in Onsemi during the first quarter worth $774,000. Finally, Axxcess Wealth Management LLC bought a new stake in Onsemi during the 1st quarter valued at $808,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. KeyCorp reduced their target price on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of Onsemi in a report on Thursday, June 13th. Truist Financial raised their target price on shares of Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. TD Cowen upped their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Rosenblatt Securities lifted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi currently has a consensus rating of “Hold” and an average target price of $85.61.

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.