Onsemi (NASDAQ:ON) Shares Purchased by Carmel Capital Partners LLC

Carmel Capital Partners LLC increased its holdings in Onsemi (NASDAQ:ON) by 8.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,689 shares of the semiconductor company’s stock after purchasing an additional 1,814 shares during the quarter. Onsemi accounts for about 0.7% of Carmel Capital Partners LLC’s holdings, making the stock its 28th largest holding. Carmel Capital Partners LLC’s holdings in Onsemi were worth $1,720,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after acquiring an additional 665,633 shares during the last quarter. Capital International Investors boosted its stake in Onsemi by 1.0% during the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after purchasing an additional 42,117 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after buying an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after buying an additional 380,471 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of Onsemi by 6.7% in the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock worth $190,939,000 after buying an additional 161,987 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ON. Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Truist Financial cut their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. BNP Paribas lowered their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Susquehanna raised their target price on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.91.

Onsemi Trading Down 2.3 %

ON opened at $70.41 on Friday. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $70.76 and a 200-day simple moving average of $71.81. The firm has a market cap of $29.98 billion, a P/E ratio of 17.47, a P/E/G ratio of 7.75 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. On average, equities analysts expect 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.