12,026 Shares in Onsemi (NASDAQ:ON) Bought by Econ Financial Services Corp

Econ Financial Services Corp acquired a new position in shares of Onsemi (NASDAQ:ON) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,026 shares of the semiconductor company’s stock, valued at approximately $885,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ON. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Onsemi during the fourth quarter worth approximately $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Onsemi during the fourth quarter worth $33,000. Private Wealth Management Group LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at about $33,000. Westside Investment Management Inc. lifted its stake in shares of Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Onsemi during the first quarter worth about $45,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $77.00 in a report on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research note on Thursday, June 13th. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.36.

Insider Activity at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Paul Anthony Mascarenas sold 911 shares of the 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 in the company, valued at approximately $3,643,253.34. The transaction 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 that occurred on Tuesday, June 11th. The stock was 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 owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Onsemi Stock Up 11.5 %

Shares of ON traded up $8.10 during mid-day trading on Monday, hitting $78.27. 22,280,261 shares of the company’s stock were exchanged, compared to its average volume of 6,903,671. The stock’s 50-day moving average is $72.63 and its 200-day moving average is $73.19. 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 fifty-two week low of $59.34 and a fifty-two week high of $111.35. The company has a market cap of $33.67 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 3.05 and a beta of 1.69.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. On average, sell-side analysts anticipate that Onsemi will post 4.02 earnings per share for the current fiscal year.

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.