Traders Buy Large Volume of Onsemi Call Options (NASDAQ:ON)

Onsemi (NASDAQ:ON) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 27,085 call options on the stock. This is an increase of 76% compared to the typical daily volume of 15,403 call options.

Insider Activity at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently modified their holdings of the stock. Moody National Bank Trust Division increased its position in shares of Onsemi by 3.0% in the second quarter. Moody National Bank Trust Division now owns 10,013 shares of the semiconductor company’s stock worth $686,000 after acquiring an additional 290 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake 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. Boston Partners purchased a new stake in shares of Onsemi in the first quarter valued at $2,580,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Onsemi by 16.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 639,741 shares of the semiconductor company’s stock worth $47,054,000 after buying an additional 91,171 shares during the period. Finally, Atria Investments Inc grew its holdings in shares of Onsemi by 3.2% during the first quarter. Atria Investments Inc now owns 25,084 shares of the semiconductor company’s stock valued at $1,845,000 after buying an additional 775 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ON. Wells Fargo & Company lowered their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Rosenblatt Securities dropped their target price on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Mizuho cut their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Truist Financial lowered their price target on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Benchmark cut their price objective on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Onsemi Stock Performance

NASDAQ:ON opened at $72.68 on Thursday. The company has a 50-day moving average of $71.44 and a 200-day moving average of $74.10. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. Analysts forecast that Onsemi will post 3.83 earnings per share for the current fiscal year.

Onsemi Company 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.