Onsemi (NASDAQ:ON) Stake Boosted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its holdings in shares of Onsemi (NASDAQ:ON) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,996 shares of the semiconductor company’s stock after purchasing an additional 609 shares during the period. First Trust Direct Indexing L.P.’s holdings in Onsemi were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ON. GHP Investment Advisors Inc. lifted its holdings in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi during the first quarter worth approximately $45,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi in the second quarter valued at $43,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Onsemi in the second quarter valued at $53,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by company insiders.

Onsemi Trading Up 0.7 %

NASDAQ ON opened at $70.99 on Friday. The business’s 50-day moving average price is $71.27 and its two-hundred day moving average price is $71.52. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The firm has a market capitalization of $30.23 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 7.89 and a beta of 1.65. The company has a current ratio of 3.07, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 EPS. On average, analysts expect that Onsemi will post 4 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ON. JPMorgan Chase & Co. upped their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. KeyCorp cut their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday. Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research note on Tuesday. Finally, Truist Financial cut their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

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.