Darwin Wealth Management LLC Takes $1.79 Million Position in Onsemi (NASDAQ:ON)

Darwin Wealth Management LLC acquired a new stake in Onsemi (NASDAQ:ON) in the third quarter, Holdings Channel.com reports. The fund acquired 24,644 shares of the semiconductor company’s stock, valued at approximately $1,789,000.

A number of other institutional investors have also modified their holdings of ON. Second Half Financial Partners LLC purchased a new position in Onsemi in the third quarter valued at $227,000. PNC Financial Services Group Inc. lifted its holdings in Onsemi by 9.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 101,268 shares of the semiconductor company’s stock worth $7,353,000 after buying an additional 8,384 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Onsemi during the 3rd quarter worth about $3,085,000. Prospera Financial Services Inc lifted its holdings in Onsemi by 14.3% during the 3rd quarter. Prospera Financial Services Inc now owns 18,444 shares of the semiconductor company’s stock worth $1,339,000 after buying an additional 2,302 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Onsemi by 47.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 42,621 shares of the semiconductor company’s stock worth $3,095,000 after buying an additional 13,791 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’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 sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Onsemi Trading Down 0.4 %

Shares of Onsemi stock opened at $66.41 on Wednesday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm has a market cap of $28.28 billion, a PE ratio of 16.54, a P/E/G ratio of 6.94 and a beta of 1.65. The business’s fifty day moving average is $70.34 and its two-hundred day moving average is $71.84. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. Analysts anticipate that Onsemi will post 4 earnings per share for the current year.

Wall Street Analyst Weigh In

ON has been the subject of a number of recent analyst reports. KeyCorp decreased their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Roth Mkm lifted their price target on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Morgan Stanley boosted their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.30.

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.