Ensign Peak Advisors Inc Purchases 113,360 Shares of Onsemi (NASDAQ:ON)

Ensign Peak Advisors Inc increased its position in shares of Onsemi (NASDAQ:ON) by 220.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 164,875 shares of the semiconductor company’s stock after buying an additional 113,360 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Onsemi were worth $11,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. boosted its stake in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the last quarter. International Assets Investment Management LLC bought a new position in Onsemi in the second quarter valued at approximately $43,000. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi during the 1st quarter worth approximately $45,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Onsemi in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $59,515,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

ON has been the topic of a number of recent analyst reports. Benchmark boosted their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Rosenblatt Securities upped their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. KeyCorp dropped their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Finally, Truist Financial lifted their target price on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Three equities research 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, the company has a consensus rating of “Hold” and a consensus price target of $85.61.

Onsemi Stock Performance

ON opened at $69.74 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a 52-week low of $59.34 and a 52-week high of $95.67. The firm has a market cap of $30.00 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 3.77 and a beta of 1.66. The business’s fifty day moving average is $72.72 and its 200-day moving average is $72.05.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 24.84% and a return on equity of 25.48%. During the same period in the prior year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. Sell-side analysts expect that Onsemi will post 4.01 EPS for the current fiscal year.

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.