Onsemi (NASDAQ:ON) Shares Purchased by Swiss National Bank

Swiss National Bank raised its stake in Onsemi (NASDAQ:ON) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,277,000 shares of the semiconductor company’s stock after acquiring an additional 11,700 shares during the quarter. Swiss National Bank owned approximately 0.30% of Onsemi worth $92,723,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ON. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the third quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi in the third quarter worth about $33,000. GHP Investment Advisors Inc. lifted its stake 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 worth $38,000 after acquiring an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Onsemi in the second quarter worth about $43,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

ON stock opened at $66.48 on Tuesday. The company has a market cap of $28.31 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 6.94 and a beta of 1.65. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $70.37 and its 200-day moving average is $71.87.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm’s revenue was down 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. Equities research analysts forecast that Onsemi will post 4 EPS for the current year.

Analyst Upgrades and Downgrades

ON has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Truist Financial lowered their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $86.30.

About Onsemi

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.