Exchange Traded Concepts LLC Grows Stock Position in Onsemi (NASDAQ:ON)

Exchange Traded Concepts LLC increased its position in shares of Onsemi (NASDAQ:ON) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,129 shares of the semiconductor company’s stock after purchasing an additional 375 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Onsemi were worth $260,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ON. Capital Performance Advisors LLP purchased a new position in Onsemi in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Onsemi in the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. lifted its position in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in Onsemi during the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Onsemi by 42.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 269 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. 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. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ON has been the topic of several analyst reports. Roth Mkm reiterated a “buy” rating and set a $100.00 price target on shares of Onsemi in a report on Thursday, December 12th. Susquehanna reduced their target price on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. The Goldman Sachs Group dropped their price target on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price target on shares of Onsemi in a research report on Tuesday, November 19th. Finally, Loop Capital started coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.70.

Onsemi Price Performance

Shares of ON opened at $52.34 on Friday. The firm’s 50 day moving average price is $62.57 and its 200 day moving average price is $68.40. The company has a market cap of $22.29 billion, a P/E ratio of 12.99, a PEG ratio of 10.30 and a beta of 1.64. 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 fifty-two week low of $51.81 and a fifty-two week high of $85.16.

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.