First Trust Direct Indexing L.P. Purchases 609 Shares of Onsemi (NASDAQ:ON)

First Trust Direct Indexing L.P. lifted its stake in shares of Onsemi (NASDAQ:ON) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,996 shares of the semiconductor company’s stock after purchasing an additional 609 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Onsemi were worth $1,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. raised its position in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in 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 during the last quarter. International Assets Investment Management LLC purchased a new stake in Onsemi in the second quarter worth approximately $43,000. Fidelis Capital Partners LLC purchased a new stake in Onsemi in the first quarter worth approximately $45,000. Finally, Oakworth Capital Inc. purchased a new stake in Onsemi in the second quarter worth approximately $53,000. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ON. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday. Truist Financial dropped their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC dropped their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Price Performance

Shares of NASDAQ ON opened at $70.99 on Friday. The firm has a market capitalization of $30.23 billion, a P/E ratio of 17.62, a PEG ratio of 7.89 and a beta of 1.65. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company’s fifty day moving average is $71.27 and its two-hundred day moving average is $71.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last released 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. 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 analyst estimates of $1.75 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. Analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.