Onsemi (NASDAQ:ON) Shares Up 2.3%

Onsemi (NASDAQ:ON) traded up 2.3% during mid-day trading on Monday . The company traded as high as $69.75 and last traded at $69.49. 481,634 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 6,984,175 shares. The stock had previously closed at $67.95.

Analyst Ratings Changes

Several brokerages have recently issued reports on ON. Roth Mkm raised their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Onsemi from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. B. Riley reissued a “buy” rating and set a $103.00 target price (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. TD Cowen boosted their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Onsemi has a consensus rating of “Hold” and a consensus price target of $85.61.

Onsemi Price Performance

The company has a fifty day moving average of $72.43 and a 200-day moving average of $73.11. The stock has a market cap of $28.56 billion, a PE ratio of 13.98, a P/E/G ratio of 3.12 and a beta of 1.69. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31.

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, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. Sell-side analysts expect that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Activity at Onsemi

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. Insiders have sold 69,850 shares of company stock valued at $5,236,119 over the last quarter. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently made changes to their positions in ON. Integrated Advisors Network LLC lifted its stake in shares of Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after acquiring an additional 164 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the period. Perigon Wealth Management LLC boosted its holdings in Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after purchasing an additional 177 shares in the last quarter. STF Management LP increased its position in Onsemi by 2.5% during the 4th quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after purchasing an additional 178 shares during the period. Finally, Covestor Ltd raised its stake in shares of Onsemi by 24.5% during the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after buying an additional 190 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.