Second Half Financial Partners LLC Takes Position in Onsemi (NASDAQ:ON)

Second Half Financial Partners LLC acquired a new stake in shares of Onsemi (NASDAQ:ON) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,132 shares of the semiconductor company’s stock, valued at approximately $227,000.

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

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ON shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Mizuho set a $85.00 price objective on shares of Onsemi in a report on Friday, October 18th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. TD Cowen dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Roth Mkm lifted their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Stock Performance

NASDAQ:ON opened at $66.04 on Tuesday. The firm has a market capitalization of $28.12 billion, a PE ratio of 16.50, a PEG ratio of 6.94 and a beta of 1.65. The stock’s fifty day moving average is $70.37 and its 200 day moving average is $71.87. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. 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 (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that Onsemi will post 4 earnings per share for the current year.

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.