Onsemi (NASDAQ:ON) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its position in shares of Onsemi (NASDAQ:ON) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,327 shares of the semiconductor company’s stock after purchasing an additional 8,147 shares during the period. Inspire Investing LLC’s holdings in Onsemi were worth $4,017,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Davis Investment Partners LLC boosted its position in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the last quarter. Integrated Advisors Network LLC lifted its position in Onsemi by 1.7% during the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after buying an additional 164 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares in the last quarter. Covestor Ltd lifted 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 buying an additional 190 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in Onsemi by 4.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock valued at $350,000 after buying an additional 206 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ON shares. KeyCorp reduced their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Rosenblatt Securities lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Roth Mkm lifted their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Truist Financial lifted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.83.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Simon Keeton sold 30,939 shares of the business’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 value of $2,411,385.66. Following the completion of the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Onsemi Price Performance

NASDAQ ON opened at $70.33 on Friday. The stock’s 50-day moving average price is $72.06 and its two-hundred day moving average price is $71.56. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a market cap of $30.13 billion, a PE ratio of 16.02, a PEG ratio of 3.81 and a beta of 1.65. Onsemi has a 1 year low of $59.34 and a 1 year high of $95.59.

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