PNC Financial Services Group Inc. Has $7.35 Million Stake in Onsemi (NASDAQ:ON)

PNC Financial Services Group Inc. grew its position in Onsemi (NASDAQ:ON) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,268 shares of the semiconductor company’s stock after buying an additional 8,384 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Onsemi were worth $7,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently 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 approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi in the third quarter worth $33,000. GHP Investment Advisors Inc. grew its position 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 during the last quarter. Massmutual Trust Co. FSB ADV increased its position in 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 purchasing an additional 169 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Onsemi during the 2nd quarter worth approximately $43,000. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ON shares. Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Loop Capital began coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Stock Up 1.7 %

Onsemi stock opened at $69.62 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market cap of $29.64 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 7.34 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm’s 50-day simple moving average is $70.21 and its 200 day simple moving average is $71.79.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS 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 during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the business posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% on a year-over-year basis. Research analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Onsemi 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.