Circle Wealth Management LLC Increases Position in Onsemi (NASDAQ:ON)

Circle Wealth Management LLC lifted its stake in Onsemi (NASDAQ:ON) by 153.1% during the third quarter, HoldingsChannel.com reports. The firm owned 11,828 shares of the semiconductor company’s stock after purchasing an additional 7,155 shares during the quarter. Circle Wealth Management LLC’s holdings in Onsemi were worth $859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ON. B. Riley Wealth Advisors Inc. raised its holdings in Onsemi by 9.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,664 shares of the semiconductor company’s stock worth $417,000 after buying an additional 512 shares during the last quarter. Comerica Bank lifted its position in Onsemi by 21.1% in the 1st quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock valued at $7,265,000 after acquiring an additional 17,198 shares in the last quarter. Atria Investments Inc boosted its stake in Onsemi by 3.2% during the 1st quarter. Atria Investments Inc now owns 25,084 shares of the semiconductor company’s stock valued at $1,845,000 after purchasing an additional 775 shares during the last quarter. Boston Partners bought a new stake in shares of Onsemi in the 1st quarter worth $2,580,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of 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. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 1.1 %

Shares of ON opened at $71.12 on Friday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company’s fifty day moving average is $70.17 and its 200 day moving average is $71.79. The stock has a market capitalization of $30.28 billion, a PE ratio of 17.65, a P/E/G ratio of 7.54 and a beta of 1.65.

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

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 value of $109,065.00. Following the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 4,500 shares of company stock valued at $321,765. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ON shares. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Robert W. Baird lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. TD Cowen dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Finally, Loop Capital started coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.87.

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.