Creative Planning Acquires 2,215 Shares of Onsemi (NASDAQ:ON)

Creative Planning increased its holdings in Onsemi (NASDAQ:ON) by 11.2% during the second quarter, Holdings Channel.com reports. The firm owned 21,991 shares of the semiconductor company’s stock after acquiring an additional 2,215 shares during the quarter. Creative Planning’s holdings in Onsemi were worth $1,507,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Westside Investment Management Inc. boosted its stake in shares of Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the period. Massmutual Trust Co. FSB ADV boosted 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 buying an additional 169 shares during the period. International Assets Investment Management LLC bought a new stake in Onsemi in the 2nd quarter worth $43,000. Fidelis Capital Partners LLC purchased a new position in Onsemi during the 1st quarter valued at about $45,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Onsemi during the second quarter valued at approximately $53,000. 97.70% of the stock is owned by institutional investors.

Insider Activity

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $59,515,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Onsemi Trading Down 0.8 %

Onsemi stock opened at $70.53 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The stock has a market capitalization of $30.21 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 3.84 and a beta of 1.65. The business’s fifty day moving average is $72.19 and its 200 day moving average is $71.61. Onsemi has a one year low of $59.34 and a one year high of $95.59.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. On average, sell-side analysts predict that Onsemi will post 4.01 EPS for the current year.

Analyst Upgrades and Downgrades

ON has been the subject of a number of research reports. Bank of America increased their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Benchmark lifted their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Susquehanna increased their price objective on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, TD Cowen boosted their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.83.

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.