Acadian Asset Management LLC Makes New $2.27 Million Investment in Onsemi (NASDAQ:ON)

Acadian Asset Management LLC acquired a new position in Onsemi (NASDAQ:ON) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 33,082 shares of the semiconductor company’s stock, valued at approximately $2,265,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC increased its position in shares of Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after purchasing an additional 164 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the last quarter. STF Management LP increased its position in shares of Onsemi by 2.5% in the 4th quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after purchasing an additional 178 shares during the last quarter. Covestor Ltd increased its position in shares of Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 190 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of Onsemi by 2.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,539 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Activity at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of the business’s 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 sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ON. Morgan Stanley downgraded shares of Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research report on Thursday, June 13th. Benchmark boosted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Truist Financial boosted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.61.

Onsemi Trading Up 3.4 %

Shares of NASDAQ:ON opened at $71.72 on Friday. Onsemi has a twelve month low of $59.34 and a twelve month high of $98.07. The firm has a market cap of $30.86 billion, a P/E ratio of 14.64, a P/E/G ratio of 3.79 and a beta of 1.66. The company has a 50 day moving average of $73.27 and a 200-day moving average of $72.47. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

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