XTX Topco Ltd Takes $1.61 Million Position in Onsemi (NASDAQ:ON)

XTX Topco Ltd bought a new stake in Onsemi (NASDAQ:ON) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 22,234 shares of the semiconductor company’s stock, valued at approximately $1,614,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Czech National Bank increased its position in shares of Onsemi by 9.0% during the second quarter. Czech National Bank now owns 81,984 shares of the semiconductor company’s stock worth $5,620,000 after acquiring an additional 6,795 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Onsemi by 4.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,504 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 348 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Onsemi in the second quarter worth approximately $189,000. Cox Capital Mgt LLC bought a new position in shares of Onsemi in the second quarter valued at approximately $963,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Onsemi by 10.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,723 shares of the semiconductor company’s stock valued at $1,009,000 after buying an additional 1,424 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’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. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 4,500 shares of company stock worth $321,765 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON stock opened at $66.52 on Monday. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The stock has a market capitalization of $28.32 billion, a P/E ratio of 16.51, a PEG ratio of 7.13 and a beta of 1.63. 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 firm’s 50 day moving average is $69.89 and its 200 day moving average is $71.56.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company started coverage on Onsemi in a research report on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price target for the company. Morgan Stanley raised their price target on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. TD Cowen cut their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. BNP Paribas decreased their price objective on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. 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, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

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.