Bleakley Financial Group LLC Has $497,000 Stock Position in Onsemi (NASDAQ:ON)

Bleakley Financial Group LLC increased its position in shares of Onsemi (NASDAQ:ON) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,838 shares of the semiconductor company’s stock after purchasing an additional 641 shares during the quarter. Bleakley Financial Group LLC’s holdings in Onsemi were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ON. Swedbank AB acquired a new stake in shares of Onsemi during the 1st quarter worth about $90,274,000. American Century Companies Inc. grew its holdings in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after acquiring an additional 909,558 shares during the last quarter. M&G Plc bought a new stake in Onsemi during the 1st quarter worth about $57,900,000. Dimensional Fund Advisors LP grew its holdings in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after acquiring an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Down 0.9 %

Onsemi stock opened at $66.54 on Wednesday. The company’s 50 day simple moving average is $71.90 and its 200 day simple moving average is $71.41. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm has a market capitalization of $28.50 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 3.67 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95.

Onsemi (NASDAQ:ON) last announced 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. 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%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the company posted $1.33 EPS. As a group, sell-side analysts anticipate that Onsemi will post 4.01 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Bank of America increased their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Susquehanna increased their price objective on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. Finally, 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 research note on Tuesday, July 30th. Three 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 a consensus rating of “Hold” and an average target price of $85.74.

Insiders Place Their Bets

In other Onsemi news, 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 sale, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,939 shares of company stock worth $2,626,651. Company insiders own 0.31% of the company’s stock.

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.