Second Line Capital LLC Takes Position in Onsemi (NASDAQ:ON)

Second Line Capital LLC purchased a new position in shares of Onsemi (NASDAQ:ON) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 32,136 shares of the semiconductor company’s stock, valued at approximately $2,203,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of Onsemi by 15.8% during the fourth quarter. Stifel Financial Corp now owns 122,528 shares of the semiconductor company’s stock valued at $10,235,000 after buying an additional 16,762 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in Onsemi during the 4th quarter valued at about $237,000. Scotia Capital Inc. bought a new stake in Onsemi during the 4th quarter worth approximately $2,596,000. California State Teachers Retirement System raised its stake in shares of Onsemi by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 665,956 shares of the semiconductor company’s stock worth $55,627,000 after purchasing an additional 5,496 shares during the last quarter. Finally, APG Asset Management US Inc. bought a new position in shares of Onsemi in the fourth quarter valued at approximately $7,205,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 directly owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated 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 transaction, 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. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Rosenblatt Securities increased their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Roth Mkm raised their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Finally, Bank of America boosted their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.61.

Onsemi Trading Up 1.5 %

Shares of ON stock opened at $74.39 on Monday. The stock has a market capitalization of $31.87 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 3.78 and a beta of 1.66. Onsemi has a 1 year low of $59.34 and a 1 year high of $95.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The company’s fifty day simple moving average is $72.43 and its two-hundred day simple moving average is $71.80.

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

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.