Caprock Group LLC Increases Stake in Onsemi (NASDAQ:ON)

Caprock Group LLC boosted its position in shares of Onsemi (NASDAQ:ON) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,008 shares of the semiconductor company’s stock after purchasing an additional 1,053 shares during the period. Caprock Group LLC’s holdings in Onsemi were worth $799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Pathstone Holdings LLC grew its position in Onsemi by 4.3% in the 3rd quarter. Pathstone Holdings LLC now owns 43,659 shares of the semiconductor company’s stock valued at $3,170,000 after acquiring an additional 1,797 shares during the last quarter. Baron Wealth Management LLC boosted its stake in shares of Onsemi by 3.8% during the third quarter. Baron Wealth Management LLC now owns 8,661 shares of the semiconductor company’s stock valued at $629,000 after purchasing an additional 318 shares during the period. Strengthening Families & Communities LLC grew its holdings in shares of Onsemi by 11.8% in the third quarter. Strengthening Families & Communities LLC now owns 6,981 shares of the semiconductor company’s stock worth $507,000 after purchasing an additional 736 shares during the last quarter. Swiss National Bank increased its stake in Onsemi by 0.9% in the 3rd quarter. Swiss National Bank now owns 1,277,000 shares of the semiconductor company’s stock worth $92,723,000 after buying an additional 11,700 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ON. JPMorgan Chase & Co. raised their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Robert W. Baird increased their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Bank of America increased 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Price Performance

Shares of ON opened at $68.32 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The company’s fifty day moving average price is $70.25 and its 200-day moving average price is $71.79. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The firm has a market capitalization of $29.09 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 7.15 and a beta of 1.65.

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