Onsemi (NASDAQ:ON) Shares Bought by Bellwether Advisors LLC

by · The Markets Daily

Bellwether Advisors LLC boosted its stake in shares of Onsemi (NASDAQ:ON – Free Report) by 16.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 160,673 shares of the semiconductor company’s stock after purchasing an additional 22,989 shares during the period. Onsemi makes up approximately 2.2% of Bellwether Advisors LLC’s portfolio, making the stock its 13th biggest holding. Bellwether Advisors LLC’s holdings in Onsemi were worth $11,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ON. Swedbank AB purchased a new stake in Onsemi during the 1st quarter valued at about $90,274,000. American Century Companies Inc. increased its stake in Onsemi by 451.3% during the second 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. Van ECK Associates Corp raised its position in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Onsemi by 18.7% in 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. increased its holdings in Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after purchasing an additional 574,900 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 0.4 %

Shares of ON stock opened at $66.41 on Wednesday. The firm’s 50 day moving average price is $70.34 and its two-hundred day moving average price is $71.84. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The stock has a market cap of $28.28 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 6.94 and a beta of 1.65.

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

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the 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 completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ON has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. 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. Robert W. Baird upped their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Roth Mkm lifted their target price on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, KeyCorp reduced their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. 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 company. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $86.30.

Get Our Latest Research Report on Onsemi

About Onsemi

(Free Report)

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.

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