WealthPlan Investment Management LLC Acquires New Shares in Onsemi (NASDAQ:ON)

WealthPlan Investment Management LLC acquired a new stake in Onsemi (NASDAQ:ON) in the 3rd quarter, Holdings Channel reports. The firm acquired 72,946 shares of the semiconductor company’s stock, valued at approximately $5,297,000.

Several other hedge funds have also recently bought and sold shares of ON. Capital Performance Advisors LLP purchased a new position in Onsemi in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Onsemi during the third quarter worth $33,000. GHP Investment Advisors Inc. increased its position in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Onsemi during the second quarter worth $43,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Trading Down 0.6 %

Shares of ON opened at $69.96 on Tuesday. The stock’s 50-day moving average is $70.60 and its two-hundred day moving average is $71.95. The stock has a market cap of $29.79 billion, a PE ratio of 17.36, a P/E/G ratio of 7.55 and a beta of 1.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 earnings per share. Equities analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ON. Needham & Company LLC dropped their price target on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. KeyCorp dropped their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Truist Financial dropped their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

About Onsemi

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.