WealthPLAN Partners LLC Invests $2.13 Million in Onsemi (NASDAQ:ON)

WealthPLAN Partners LLC purchased a new stake in Onsemi (NASDAQ:ON) during the third quarter, HoldingsChannel.com reports. The firm purchased 29,286 shares of the semiconductor company’s stock, valued at approximately $2,126,000.

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

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Tuesday, October 15th. The stock was 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 directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ON. Susquehanna increased their target price on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Loop Capital started coverage on shares of Onsemi in a research note on Monday. They set a “buy” rating and a $95.00 price objective for the company. Needham & Company LLC cut their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Bank of America boosted their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, TD Cowen cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Down 0.6 %

Shares of NASDAQ ON opened at $69.96 on Tuesday. 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 has a 1 year low of $59.34 and a 1 year high of $86.77. The stock’s 50-day simple moving average is $70.60 and its 200-day simple moving average is $71.95. The firm has a market cap of $29.79 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 7.55 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $1.39 EPS. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, equities analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal 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.