Atwood & Palmer Inc. Grows Position in Onsemi (NASDAQ:ON)

Atwood & Palmer Inc. raised its stake in Onsemi (NASDAQ:ON) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 279,656 shares of the semiconductor company’s stock after buying an additional 5,566 shares during the quarter. Atwood & Palmer Inc.’s holdings in Onsemi were worth $20,306,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ON. Mediolanum International Funds Ltd purchased a new stake in shares of Onsemi in the 1st quarter valued at $2,447,000. Assenagon Asset Management S.A. lifted its position in shares of Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares in the last quarter. Norden Group LLC purchased a new position in shares of Onsemi in the first quarter valued at approximately $774,000. Axxcess Wealth Management LLC acquired a new position in shares of Onsemi in the first quarter valued at approximately $808,000. Finally, Meeder Asset Management Inc. increased its stake in Onsemi by 42.9% during the 1st quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after buying an additional 7,820 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ON shares. Benchmark lifted their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Truist Financial lifted their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Bank of America upped their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. KeyCorp reduced their target price on Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.61.

Insider Activity

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Shares of ON opened at $71.09 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $72.26 and its two-hundred day moving average is $71.63. Onsemi has a twelve month low of $59.34 and a twelve month high of $95.59. The firm has a market capitalization of $30.45 billion, a PE ratio of 14.51, a P/E/G ratio of 3.84 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. Onsemi’s quarterly revenue was down 17.2% on a year-over-year basis. Research analysts anticipate that Onsemi will post 4.01 earnings per share for the current 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.