Shelton Wealth Management LLC Invests $951,000 in Onsemi (NASDAQ:ON)

Shelton Wealth Management LLC acquired a new stake in shares of Onsemi (NASDAQ:ON) during the 4th quarter, Holdings Channel.com reports. The fund acquired 15,076 shares of the semiconductor company’s stock, valued at approximately $951,000.

Several other hedge funds also recently made changes to their positions in ON. Capital Performance Advisors LLP acquired a new stake in Onsemi in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi in the 3rd quarter worth $33,000. GHP Investment Advisors Inc. boosted its holdings 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. Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Onsemi by 42.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 269 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of Onsemi stock opened at $54.63 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. Onsemi has a 52 week low of $53.10 and a 52 week high of $85.16. The firm has a fifty day moving average of $65.26 and a two-hundred day moving average of $69.79. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 5.29 and a beta of 1.64.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. As a group, equities research analysts predict that Onsemi will post 3.99 EPS for the current year.

Wall Street Analysts Forecast Growth

ON has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 target price on shares of Onsemi in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. The Goldman Sachs Group dropped their target price on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley boosted their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.35.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.