Graphene Investments SAS Has $2.93 Million Holdings in Onsemi (NASDAQ:ON)

Graphene Investments SAS increased its position in Onsemi (NASDAQ:ON) by 20.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 39,800 shares of the semiconductor company’s stock after purchasing an additional 6,700 shares during the period. Graphene Investments SAS’s holdings in Onsemi were worth $2,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ON. Apollon Wealth Management LLC grew its stake in Onsemi by 26.4% in the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after purchasing an additional 1,482 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 82,301 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after acquiring an additional 35,362 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Onsemi by 7.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 637 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ON shares. B. Riley reissued a “buy” rating and issued a $103.00 price objective (down from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Truist Financial cut their price objective on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group lowered their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. KeyCorp reduced their price objective on Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.28.

Insider Activity at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Price Performance

NASDAQ:ON traded down $0.24 during mid-day trading on Wednesday, reaching $72.68. 3,906,417 shares of the company were exchanged, compared to its average volume of 6,833,691. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The stock has a market cap of $31.27 billion, a PE ratio of 14.88, a PEG ratio of 3.12 and a beta of 1.69. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The company has a fifty day moving average of $71.30 and a 200 day moving average of $74.11.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts anticipate that Onsemi will post 3.83 EPS 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.