CX Institutional Raises Position in Onsemi (NASDAQ:ON)

CX Institutional grew its holdings in shares of Onsemi (NASDAQ:ON) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,681 shares of the semiconductor company’s stock after buying an additional 232 shares during the period. CX Institutional’s holdings in Onsemi were worth $340,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,939 shares of company stock valued at $2,626,651. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the subject of several analyst reports. Rosenblatt Securities raised their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Truist Financial increased their price objective on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen boosted their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Bank of America raised their price target on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.83.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $69.24 on Friday. The firm’s 50 day simple moving average is $72.14 and its two-hundred day simple moving average is $71.46. 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 has a market capitalization of $29.79 billion, a P/E ratio of 14.13, a P/E/G ratio of 3.81 and a beta of 1.65. Onsemi has a 1-year low of $59.34 and a 1-year high of $90.60.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results 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. 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 analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $1.33 EPS. Onsemi’s revenue for the quarter was down 17.2% compared to the same quarter last year. Research analysts expect that Onsemi will post 4.01 EPS for the current fiscal 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.