Public Sector Pension Investment Board Buys 1,500 Shares of Onsemi (NASDAQ:ON)

Public Sector Pension Investment Board raised its position in shares of Onsemi (NASDAQ:ON) by 8.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,409 shares of the semiconductor company’s stock after acquiring an additional 1,500 shares during the period. Public Sector Pension Investment Board’s holdings in Onsemi were worth $1,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Davis Investment Partners LLC lifted its stake in shares of Onsemi by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the period. Dynamic Advisor Solutions LLC increased its stake in Onsemi by 4.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after buying an additional 206 shares during the period. Finally, Sentry Investment Management LLC lifted its holdings in Onsemi by 3.0% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 1.2 %

Onsemi stock opened at $66.52 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market cap of $28.32 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 7.49 and a beta of 1.63. The stock has a 50-day moving average of $69.89 and a two-hundred day moving average of $71.60. Onsemi has a one year low of $59.34 and a one year high of $86.77.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company posted $1.39 earnings per share. The business’s quarterly revenue was down 19.2% on a year-over-year basis. On average, research analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on ON shares. TD Cowen dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Truist Financial decreased their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird raised their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 4,500 shares of company stock worth $321,765. 0.31% of the stock is owned by company insiders.

Onsemi Company 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.