CIBC Asset Management Inc Boosts Stock Holdings in Onsemi (NASDAQ:ON)

CIBC Asset Management Inc boosted its position in shares of Onsemi (NASDAQ:ON) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,971 shares of the semiconductor company’s stock after buying an additional 4,068 shares during the period. CIBC Asset Management Inc’s holdings in Onsemi were worth $8,636,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi in the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. grew its position in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Onsemi in the fourth quarter valued at approximately $41,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the third quarter valued at approximately $43,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ON has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. Truist Financial decreased their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Loop Capital initiated coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective on the stock. Robert W. Baird upped their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Benchmark decreased their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.16.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Stock Performance

NASDAQ:ON opened at $51.95 on Wednesday. The firm has a market capitalization of $22.12 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The business’s fifty day moving average price is $58.11 and its 200 day moving average price is $66.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, sell-side analysts anticipate that Onsemi will post 3.99 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.