Onsemi (NASDAQ:ON) Short Interest Update

Onsemi (NASDAQ:ON) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 24,390,000 shares, a growth of 23.1% from the May 15th total of 19,820,000 shares. Based on an average daily trading volume, of 6,340,000 shares, the short-interest ratio is currently 3.8 days.

Onsemi Stock Down 2.5 %

Shares of ON opened at $70.18 on Monday. The firm has a market cap of $30.19 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 3.28 and a beta of 1.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The firm’s 50-day simple moving average is $70.42 and its 200 day simple moving average is $74.79.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company posted $1.19 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts forecast that Onsemi will post 3.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ON. The Goldman Sachs Group decreased their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Mizuho decreased their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Susquehanna dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday, April 30th. Jefferies Financial Group began coverage on shares of Onsemi in a report on Monday, May 13th. They issued a “buy” rating and a $100.00 price target for the company. Finally, KeyCorp lowered their price objective on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Insider Activity

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was 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 of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onsemi 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the stock. Provence Wealth Management Group acquired a new position in shares of Onsemi in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi during the fourth quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC acquired a new position in Onsemi during the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the fourth quarter worth $33,000. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Onsemi in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 97.70% 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.