Entropy Technologies LP Invests $2.15 Million in Onsemi (NASDAQ:ON)

Entropy Technologies LP acquired a new stake in Onsemi (NASDAQ:ON) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 29,572 shares of the semiconductor company’s stock, valued at approximately $2,147,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ON. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the third quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. increased its holdings in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Onsemi during the second quarter worth approximately $43,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ON has been the topic of a number of research analyst reports. Susquehanna raised their price objective on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Needham & Company LLC reduced their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Truist Financial dropped their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Performance

Shares of ON stock opened at $70.23 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $70.59 and a 200-day simple moving average of $71.96. The company has a market cap of $29.90 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 7.50 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% compared to the same quarter last year. On average, equities analysts forecast that Onsemi will post 4 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

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.