Atom Investors LP Grows Position in Onsemi (NASDAQ:ON)

Atom Investors LP increased its position in Onsemi (NASDAQ:ON) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,827 shares of the semiconductor company’s stock after acquiring an additional 1,153 shares during the period. Atom Investors LP’s holdings in Onsemi were worth $3,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Davis Investment Partners LLC increased its stake in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares during the period. Greenleaf Trust lifted its holdings in shares of Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in Onsemi by 4.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Up 1.1 %

Shares of ON opened at $71.12 on Monday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The firm has a market cap of $30.28 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 7.63 and a beta of 1.65. The company’s 50-day moving average price is $70.20 and its 200 day moving average price is $71.77. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue was down 19.2% on a year-over-year basis. On average, sell-side analysts forecast that Onsemi will post 4 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial lowered their price objective on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. TD Cowen cut their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Loop Capital began coverage on shares of Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 target price on the stock. Wells Fargo & Company assumed coverage on Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price target for the company. Finally, Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 of the company’s stock, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 4,500 shares of company stock worth $321,765. 0.31% of the stock is currently owned by company insiders.

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.