MONECO Advisors LLC Boosts Stock Position in Onsemi (NASDAQ:ON)

MONECO Advisors LLC increased its position in shares of Onsemi (NASDAQ:ON) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,158 shares of the semiconductor company’s stock after purchasing an additional 594 shares during the quarter. MONECO Advisors LLC’s holdings in Onsemi were worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ON. Vanguard Group Inc. boosted its stake in shares of Onsemi by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after buying an additional 321,682 shares during the last quarter. Wahed Invest LLC lifted its holdings in Onsemi by 5.3% during the fourth quarter. Wahed Invest LLC now owns 7,361 shares of the semiconductor company’s stock valued at $615,000 after purchasing an additional 371 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in Onsemi in the 4th quarter worth about $239,000. Royal London Asset Management Ltd. boosted its stake in shares of Onsemi by 0.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 156,378 shares of the semiconductor company’s stock worth $13,062,000 after acquiring an additional 1,238 shares during the last quarter. Finally, TT International Asset Management LTD grew its holdings in shares of Onsemi by 38.3% during the fourth quarter. TT International Asset Management LTD now owns 17,781 shares of the semiconductor company’s stock worth $1,485,000 after buying an additional 4,927 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In other news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Onsemi stock traded down $1.76 during mid-day trading on Monday, hitting $70.21. 3,191,951 shares of the company were exchanged, compared to its average volume of 6,941,493. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The business’s 50 day simple moving average is $70.42 and its two-hundred day simple moving average is $74.79. The company has a market capitalization of $30.21 billion, a P/E ratio of 14.69, a PEG ratio of 3.28 and a beta of 1.71.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. Analysts forecast that Onsemi will post 3.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the topic of several research analyst reports. Truist Financial cut their price objective on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Jefferies Financial Group initiated coverage on shares of Onsemi in a research report on Monday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. B. Riley restated a “buy” rating and issued a $103.00 price objective (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Wells Fargo & Company decreased their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Finally, KeyCorp cut their price objective on Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.28.

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.