Prospera Financial Services Inc Has $1.34 Million Stake in Onsemi (NASDAQ:ON)

Prospera Financial Services Inc lifted its holdings in shares of Onsemi (NASDAQ:ON) by 14.3% in the third quarter, Holdings Channel.com reports. The fund owned 18,444 shares of the semiconductor company’s stock after purchasing an additional 2,302 shares during the quarter. Prospera Financial Services Inc’s holdings in Onsemi were worth $1,339,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ON. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi in the third quarter worth about $33,000. GHP Investment Advisors Inc. grew its holdings in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Onsemi in the second quarter valued at about $43,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Mizuho set a $85.00 price target on Onsemi in a research report on Friday, October 18th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Truist Financial reduced their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. upped their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Stock Performance

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

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

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.