Avidian Wealth Enterprises LLC Takes Position in Onsemi (NASDAQ:ON)

Avidian Wealth Enterprises LLC purchased a new position in shares of Onsemi (NASDAQ:ON) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,763 shares of the semiconductor company’s stock, valued at approximately $201,000.

Several other institutional investors have also made changes to their positions in ON. GHP Investment Advisors Inc. grew its stake in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi during the 2nd quarter worth $43,000. Oakworth Capital Inc. bought a new position in shares of Onsemi during the 2nd quarter valued at $53,000. Finally, nVerses Capital LLC acquired a new stake in shares of Onsemi in the 2nd quarter valued at $55,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

NASDAQ:ON opened at $70.41 on Friday. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 7.75 and a beta of 1.65. The company has a 50-day moving average of $70.76 and a 200-day moving average of $71.81. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The company’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, equities research analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. KeyCorp reduced their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Susquehanna increased their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Truist Financial reduced their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.91.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.