Sciencast Management LP Makes New $1.76 Million Investment in Onsemi (NASDAQ:ON)

Sciencast Management LP bought a new position in shares of Onsemi (NASDAQ:ON) during the first quarter, Holdings Channel.com reports. The firm bought 23,877 shares of the semiconductor company’s stock, valued at approximately $1,756,000. Onsemi accounts for approximately 1.1% of Sciencast Management LP’s holdings, making the stock its 23rd largest holding.

Other hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi during the 4th quarter worth about $32,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi during the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC acquired a new position in Onsemi in the fourth quarter valued at approximately $33,000. Headinvest LLC bought a new position in Onsemi in the third quarter valued at approximately $44,000. Finally, Planned Solutions Inc. acquired a new stake in Onsemi during the 4th quarter worth $46,000. 97.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the 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 $24,074,193.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, 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.

Onsemi Stock Up 3.5 %

Onsemi stock traded up $2.63 during mid-day trading on Friday, reaching $76.87. The company’s stock had a trading volume of 5,950,210 shares, compared to its average volume of 6,770,867. The business’s 50 day simple moving average is $72.19 and its 200 day simple moving average is $73.73. 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 12 month low of $59.34 and a 12 month high of $111.35. The company has a market capitalization of $33.07 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.49 and a beta of 1.69.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. Onsemi’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, research analysts anticipate that Onsemi will post 3.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research note on Thursday, June 13th. Stifel Nicolaus decreased their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. KeyCorp lowered their price target on Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.88.

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.