WealthPlan Investment Management LLC Buys New Shares in Onsemi (NASDAQ:ON)

WealthPlan Investment Management LLC purchased a new stake in Onsemi (NASDAQ:ON) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,946 shares of the semiconductor company’s stock, valued at approximately $5,297,000.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. boosted its stake in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Onsemi during the 2nd quarter worth about $43,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

Shares of NASDAQ ON opened at $69.96 on Tuesday. The stock’s 50-day moving average is $70.60 and its two-hundred day moving average is $71.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The company has a market cap of $29.79 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 7.55 and a beta of 1.65.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ON. Truist Financial decreased 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, October 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Susquehanna increased their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.30.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Onsemi Company Profile

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.