Deltec Asset Management LLC Takes Position in Onsemi (NASDAQ:ON)

Deltec Asset Management LLC acquired a new stake in Onsemi (NASDAQ:ON) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,682 shares of the semiconductor company’s stock, valued at approximately $1,212,000.

Several other large investors also recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after acquiring an additional 82,301 shares during the period. Prime Capital Investment Advisors LLC bought a new position in Onsemi during the fourth quarter worth about $250,000. Nisa Investment Advisors LLC increased its position in Onsemi by 46.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,853 shares of the semiconductor company’s stock worth $2,327,000 after acquiring an additional 8,821 shares during the period. Sequoia Financial Advisors LLC increased its position in Onsemi by 67.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,944 shares of the semiconductor company’s stock worth $747,000 after acquiring an additional 3,604 shares during the period. Finally, Valeo Financial Advisors LLC increased its position in Onsemi by 11.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 3,253 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 326 shares during the period. 97.70% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. Insiders sold 69,850 shares of company stock worth $5,236,119 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Onsemi Trading Down 2.5 %

Shares of NASDAQ:ON traded down $1.83 during mid-day trading on Wednesday, hitting $71.08. The company had a trading volume of 5,063,939 shares, compared to its average volume of 7,004,648. The firm has a fifty day moving average price of $72.27 and a 200 day moving average price of $72.98. The company has a market capitalization of $30.58 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.87. Onsemi has a one year low of $59.34 and a one year high of $101.30.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. Onsemi’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, research analysts forecast that Onsemi will post 4.01 EPS for the current year.

Analysts Set New Price Targets

ON has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. BNP Paribas reiterated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. Rosenblatt Securities increased their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. Finally, Bank of America increased their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.61.

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.