Strengthening Families & Communities LLC Grows Stock Holdings in Onsemi (NASDAQ:ON)

Strengthening Families & Communities LLC lifted its stake in shares of Onsemi (NASDAQ:ON) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,981 shares of the semiconductor company’s stock after acquiring an additional 736 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Onsemi were worth $507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank increased its position in Onsemi by 0.9% during the 3rd quarter. Swiss National Bank now owns 1,277,000 shares of the semiconductor company’s stock valued at $92,723,000 after purchasing an additional 11,700 shares during the period. Natixis Advisors LLC boosted its stake in shares of Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares in the last quarter. Empirical Finance LLC increased its holdings in Onsemi by 6.0% during the third quarter. Empirical Finance LLC now owns 8,706 shares of the semiconductor company’s stock valued at $632,000 after buying an additional 491 shares during the period. CIBC Asset Management Inc raised its stake in Onsemi by 5.4% in the third quarter. CIBC Asset Management Inc now owns 132,903 shares of the semiconductor company’s stock worth $9,650,000 after buying an additional 6,789 shares in the last quarter. Finally, Intellectus Partners LLC lifted its holdings in Onsemi by 11.0% during the third quarter. Intellectus Partners LLC now owns 12,885 shares of the semiconductor company’s stock worth $936,000 after buying an additional 1,277 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ON. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Morgan Stanley increased their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. TD Cowen dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Truist Financial lowered their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average target price 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 dated 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 directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Onsemi Stock Performance

NASDAQ:ON opened at $66.48 on Tuesday. The company has a fifty day moving average of $70.37 and a two-hundred day moving average of $71.87. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The stock has a market capitalization of $28.31 billion, a PE ratio of 16.50, a P/E/G ratio of 6.94 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate 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 last year, the business posted $1.39 earnings per share. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. As a group, research analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

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.