D.A. Davidson & CO. Grows Holdings in Onsemi (NASDAQ:ON)

D.A. Davidson & CO. lifted its stake in Onsemi (NASDAQ:ON) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,061 shares of the semiconductor company’s stock after acquiring an additional 552 shares during the quarter. D.A. Davidson & CO.’s holdings in Onsemi were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ON. American Century Companies Inc. increased its stake in Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after purchasing an additional 909,558 shares during the period. Van ECK Associates Corp grew its holdings in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after buying an additional 665,633 shares during the period. 1832 Asset Management L.P. lifted its holdings in Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after buying an additional 574,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after buying an additional 380,471 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’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 transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 4,500 shares of company stock worth $321,765. Company insiders own 0.31% of the company’s stock.

Onsemi Trading Down 5.6 %

ON opened at $69.81 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The business’s 50 day moving average is $70.29 and its two-hundred day moving average is $71.76. The firm has a market cap of $29.73 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 7.93 and a beta of 1.63.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, research analysts predict that Onsemi will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on Onsemi in a research report on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price target on the stock. Loop Capital began coverage on Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective for the company. Finally, KeyCorp cut their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.