Ibex Wealth Advisors Acquires New Holdings in Onsemi (NASDAQ:ON)

Ibex Wealth Advisors bought a new position in shares of Onsemi (NASDAQ:ON) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,016 shares of the semiconductor company’s stock, valued at approximately $316,000.

A number of other hedge funds have also modified their holdings of ON. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 514 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the 3rd quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Onsemi by 42.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 269 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ON shares. The Goldman Sachs Group lowered their price objective on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their target price on Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Truist Financial restated a “hold” rating and set a $60.00 price objective (down from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Finally, B. Riley decreased their target price on Onsemi from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and a consensus price target of $81.70.

Onsemi Stock Performance

NASDAQ ON opened at $53.77 on Thursday. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 10.62 and a beta of 1.64. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $52.80 and a twelve month high of $85.16. The stock has a fifty day simple moving average of $63.22 and a 200 day simple moving average of $68.67.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during 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 business’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Sell-side analysts expect that Onsemi will post 4 EPS for the current year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % 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 currently owned by company insiders.

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.