National Bank of Canada FI Grows Holdings in Onsemi (NASDAQ:ON)

National Bank of Canada FI grew its stake in shares of Onsemi (NASDAQ:ON) by 94.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306,437 shares of the semiconductor company’s stock after buying an additional 148,620 shares during the quarter. National Bank of Canada FI’s holdings in Onsemi were worth $22,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Davis Investment Partners LLC grew its position in Onsemi by 0.8% during the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after acquiring an additional 142 shares during the last quarter. Greenleaf Trust raised its position in Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 173 shares during the period. Meridian Financial Partners LLC lifted its stake in Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 192 shares during the last quarter. Dynamic Advisor Solutions LLC boosted 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 during the period. Finally, Sentry Investment Management LLC grew its stake in shares of Onsemi by 3.0% during the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after buying an additional 209 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Up 1.7 %

NASDAQ ON opened at $67.68 on Tuesday. The stock’s fifty day moving average price is $69.79 and its 200-day moving average price is $71.53. 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 stock has a market cap of $28.82 billion, a P/E ratio of 16.79, a P/E/G ratio of 7.13 and a beta of 1.63. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, equities analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

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 value of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 4,500 shares of company stock worth $321,765. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ON has been the subject of several analyst reports. Robert W. Baird increased their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Mizuho set a $85.00 target price on shares of Onsemi in a report on Friday, October 18th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. BNP Paribas cut their price target on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company began coverage on shares of Onsemi in a research note on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective for the company. 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.com, Onsemi has an average rating of “Moderate Buy” and a consensus price target of $85.87.

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.