Sanctuary Advisors LLC Takes Position in Onsemi (NASDAQ:ON)

Sanctuary Advisors LLC acquired a new position in Onsemi (NASDAQ:ON) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 64,063 shares of the semiconductor company’s stock, valued at approximately $4,360,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its position in shares of Onsemi by 655.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 64,309 shares of the semiconductor company’s stock worth $5,372,000 after purchasing an additional 55,793 shares during the last quarter. Exencial Wealth Advisors LLC bought a new stake in Onsemi during the 4th quarter worth approximately $386,000. Schroder Investment Management Group raised its holdings in Onsemi by 1.2% during the fourth quarter. Schroder Investment Management Group now owns 847,286 shares of the semiconductor company’s stock valued at $70,774,000 after acquiring an additional 9,694 shares during the period. Natixis Investment Managers International lifted its holdings in Onsemi by 74.2% in the 4th quarter. Natixis Investment Managers International now owns 15,976 shares of the semiconductor company’s stock worth $1,334,000 after purchasing an additional 6,805 shares in the last quarter. Finally, Ossiam boosted its position in shares of Onsemi by 0.7% during the fourth quarter. Ossiam now owns 314,790 shares of the semiconductor company’s stock worth $26,294,000 after acquiring an additional 2,050 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

ON has been the topic of several analyst reports. KeyCorp cut their target price on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Susquehanna increased their target price on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. TD Cowen lifted their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Truist Financial increased their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Benchmark boosted their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.61.

Insider Buying and Selling

In other news, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’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 value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Onsemi Trading Up 1.7 %

Shares of NASDAQ:ON opened at $71.54 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. The firm has a market capitalization of $30.78 billion, a P/E ratio of 14.60, a P/E/G ratio of 3.99 and a beta of 1.65. The business’s 50-day moving average is $72.40 and its 200 day moving average is $71.69. Onsemi has a 1 year low of $59.34 and a 1 year high of $95.59.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $1.33 EPS. Onsemi’s revenue for the quarter was down 17.2% compared to the same quarter last year. On average, research analysts predict that Onsemi will post 4.01 earnings per share for the current fiscal year.

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.