Simmons Bank Grows Stock Position in Onsemi (NASDAQ:ON)

Simmons Bank increased its stake in shares of Onsemi (NASDAQ:ON) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,518 shares of the semiconductor company’s stock after purchasing an additional 1,379 shares during the quarter. Simmons Bank’s holdings in Onsemi were worth $1,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Onsemi during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Onsemi in the third quarter worth $33,000. GHP Investment Advisors Inc. lifted its holdings in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the period. Massmutual Trust Co. FSB ADV boosted its position 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 purchasing an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Onsemi during the 2nd quarter worth $43,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Susquehanna raised their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Truist Financial reduced their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC decreased their price target on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. TD Cowen dropped their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Trading Down 2.5 %

Shares of ON opened at $68.49 on Thursday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a market capitalization of $29.16 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 7.53 and a beta of 1.65. The stock has a fifty day moving average of $70.55 and a two-hundred day moving average of $71.94. 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 EPS 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm 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, analysts forecast that Onsemi will post 4 EPS for the current year.

Onsemi 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.