V Square Quantitative Management LLC Raises Stake in Onsemi (NASDAQ:ON)

V Square Quantitative Management LLC grew its stake in shares of Onsemi (NASDAQ:ON) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,475 shares of the semiconductor company’s stock after acquiring an additional 559 shares during the period. V Square Quantitative Management LLC’s holdings in Onsemi were worth $470,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Swedbank AB purchased a new stake in shares of Onsemi during the first quarter worth $90,274,000. American Century Companies Inc. increased its position in shares of Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after buying an additional 909,558 shares during the period. M&G Plc purchased a new stake in shares of Onsemi in the first quarter worth about $57,900,000. Dimensional Fund Advisors LP grew its stake in Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after acquiring an additional 665,633 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares during the period. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,939 shares of company stock valued at $2,626,651 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the subject of several research analyst reports. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. Mizuho set a $85.00 price objective on Onsemi in a report on Friday. Benchmark raised their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. KeyCorp dropped their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.74.

Onsemi Price Performance

ON stock opened at $68.49 on Friday. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $72.09 and its two-hundred day moving average price is $71.43. The stock has a market capitalization of $29.34 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 3.90 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month high of $90.09.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. The business’s revenue was down 17.2% compared to the same quarter last year. As a group, equities analysts predict that Onsemi will post 4.01 earnings per share for the current 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.