Onsemi (NASDAQ:ON) Shares Acquired by Huntington National Bank

Huntington National Bank increased its stake in shares of Onsemi (NASDAQ:ON) by 11.9% during the 3rd quarter, Holdings Channel reports. The fund owned 3,039 shares of the semiconductor company’s stock after purchasing an additional 323 shares during the quarter. Huntington National Bank’s holdings in Onsemi were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Onsemi by 18.7% during the 2nd 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 in the last quarter. Capital International Investors boosted its position in Onsemi by 1.0% during the first 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 in the last quarter. Van ECK Associates Corp grew its holdings in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC increased 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 in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Onsemi by 6.7% during the 1st 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 during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ON has been the subject of several recent analyst reports. Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target for the company. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. KeyCorp reduced their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Truist Financial lowered 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Onsemi Trading Down 3.4 %

Shares of Onsemi stock opened at $64.76 on Monday. The stock has a 50 day moving average of $70.43 and a 200 day moving average of $71.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a market capitalization of $27.57 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 6.94 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business 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%. The company’s revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. As a group, research analysts predict that Onsemi will post 4 earnings per share for the current 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.