Onsemi (NASDAQ:ON) Stock Holdings Increased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Onsemi (NASDAQ:ON) by 3.7% during the 3rd quarter, Holdings Channel reports. The fund owned 56,322 shares of the semiconductor company’s stock after purchasing an additional 2,028 shares during the period. Quantinno Capital Management LP’s holdings in Onsemi were worth $4,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after acquiring an additional 18,450 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Onsemi during the 3rd quarter valued at $1,270,000. Assenagon Asset Management S.A. raised its stake in Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after acquiring an additional 88,496 shares in the last quarter. Deltec Asset Management LLC bought a new stake in Onsemi during the 2nd quarter valued at $1,212,000. Finally, Brighton Jones LLC increased its position in shares of Onsemi by 116.6% during the 3rd quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after purchasing an additional 13,923 shares during the period. Institutional investors own 97.70% of the company’s stock.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 4,500 shares of company stock valued at $321,765. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ON has been the topic of several research analyst reports. KeyCorp lowered their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Robert W. Baird lifted their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Truist Financial lowered their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.87.

Onsemi Stock Performance

Shares of ON stock opened at $66.52 on Monday. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 7.07 and a beta of 1.63. The stock’s fifty day simple moving average is $69.89 and its 200-day simple moving average is $71.56.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. On average, sell-side analysts predict 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.