Thurston Springer Miller Herd & Titak Inc. Acquires Shares of 2,962 Onsemi (NASDAQ:ON)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Onsemi (NASDAQ:ON) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,962 shares of the semiconductor company’s stock, valued at approximately $203,000.

Other hedge funds also recently bought and sold shares of the company. Integrated Advisors Network LLC lifted its position in shares of Onsemi by 1.7% in the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after purchasing an additional 164 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position 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 purchasing an additional 169 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Onsemi by 7.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 177 shares in the last quarter. STF Management LP lifted its position in shares of Onsemi by 2.5% in the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after purchasing an additional 178 shares in the last quarter. Finally, Covestor Ltd raised its position in Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 190 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Down 0.7 %

NASDAQ ON traded down $0.46 during trading on Tuesday, hitting $68.51. The stock had a trading volume of 6,386,131 shares, compared to its average volume of 7,045,699. The company has a market capitalization of $29.48 billion, a PE ratio of 13.98, a P/E/G ratio of 3.12 and a beta of 1.69. The company’s 50-day moving average price is $72.53 and its two-hundred day moving average price is $73.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 3.01. Onsemi has a 12 month low of $59.34 and a 12 month high of $104.87.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was down 17.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Onsemi will post 4.01 EPS for the current year.

Insider Buying and Selling

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $2,756,900.00. Following the completion of the transaction, 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. In the last three months, insiders have sold 69,850 shares of company stock valued at $5,236,119. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ON has been the topic of several research analyst reports. Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group assumed coverage on Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. Mizuho reduced their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. JPMorgan Chase & Co. raised their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Benchmark raised their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.61.

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.