HighTower Advisors LLC Raises Stake in Onsemi (NASDAQ:ON)

HighTower Advisors LLC boosted its holdings in shares of Onsemi (NASDAQ:ON) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,683 shares of the semiconductor company’s stock after acquiring an additional 2,229 shares during the period. HighTower Advisors LLC’s holdings in Onsemi were worth $3,601,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ON. Cinctive Capital Management LP purchased a new position in Onsemi during the third quarter valued at approximately $1,270,000. Concentric Capital Strategies LP bought a new stake in shares of Onsemi in the 3rd quarter worth about $1,391,000. Atom Investors LP lifted its holdings in shares of Onsemi by 2.8% in the 3rd quarter. Atom Investors LP now owns 42,827 shares of the semiconductor company’s stock worth $3,110,000 after acquiring an additional 1,153 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Onsemi in the 3rd quarter worth about $2,229,000. Finally, Point72 Europe London LLP bought a new stake in shares of Onsemi in the 3rd quarter worth about $12,286,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Trading Up 2.5 %

Shares of ON stock opened at $67.97 on Thursday. 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 firm has a market cap of $28.94 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 7.13 and a beta of 1.63. The company has a 50-day moving average of $69.63 and a two-hundred day moving average of $71.46. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77.

Onsemi (NASDAQ:ON) last announced its 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. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% compared to the same quarter last year. On average, analysts predict that Onsemi will post 4 EPS for the current year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 4,500 shares of company stock valued at $321,765. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ON. Truist Financial cut their target price on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Loop Capital started coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. KeyCorp decreased their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, BNP Paribas decreased their target price on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Two equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.87.

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.