Ashton Thomas Securities LLC Acquires Shares of 461 Onsemi (NASDAQ:ON)

Ashton Thomas Securities LLC bought a new position in Onsemi (NASDAQ:ON) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 461 shares of the semiconductor company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in Onsemi in the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. boosted its holdings in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares during the period. International Assets Investment Management LLC purchased a new position in Onsemi in the second quarter valued at $43,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Onsemi in the second quarter worth about $53,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ON shares. Truist Financial cut their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. TD Cowen decreased their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Needham & Company LLC cut their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Price Performance

Onsemi stock opened at $67.02 on Friday. 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 market cap of $28.54 billion, a P/E ratio of 16.63, a PEG ratio of 7.53 and a beta of 1.65. The company has a 50-day moving average price of $70.49 and a 200 day moving average price of $71.90. 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 results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. 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.