Meridian Financial Partners LLC Buys 192 Shares of Onsemi (NASDAQ:ON)

Meridian Financial Partners LLC increased its position in Onsemi (NASDAQ:ON) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,305 shares of the semiconductor company’s stock after purchasing an additional 192 shares during the quarter. Meridian Financial Partners LLC’s holdings in Onsemi were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new stake in Onsemi during the 1st quarter worth approximately $2,447,000. Assenagon Asset Management S.A. raised its position in Onsemi by 690.2% in 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 buying an additional 88,496 shares during the last quarter. Norden Group LLC bought a new position in Onsemi during the 1st quarter valued at $774,000. Axxcess Wealth Management LLC purchased a new position in Onsemi during the 1st quarter worth $808,000. Finally, Meeder Asset Management Inc. boosted its holdings in Onsemi by 42.9% during the 1st quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after acquiring an additional 7,820 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ON shares. Morgan Stanley downgraded shares of Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. TD Cowen increased their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Truist Financial raised their target price on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Mizuho set a $85.00 target price on Onsemi in a research note on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Hold” and an average target price of $85.74.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is currently owned by insiders.

Onsemi Trading Down 1.1 %

Shares of ON opened at $68.49 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a 1-year low of $59.34 and a 1-year high of $90.09. The company has a market capitalization of $29.34 billion, a P/E ratio of 15.60, a P/E/G ratio of 3.90 and a beta of 1.65. The firm’s 50 day simple moving average is $72.09 and its 200 day simple moving average is $71.43.

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