Leavell Investment Management Inc. Acquires 1,250 Shares of Onsemi (NASDAQ:ON)

Leavell Investment Management Inc. boosted its holdings in shares of Onsemi (NASDAQ:ON) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,098 shares of the semiconductor company’s stock after purchasing an additional 1,250 shares during the period. Leavell Investment Management Inc.’s holdings in Onsemi were worth $1,169,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Onsemi during the 1st quarter worth about $90,274,000. American Century Companies Inc. increased its holdings in shares of Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after buying an additional 909,558 shares in the last quarter. M&G Plc bought a new position in shares of Onsemi in the first quarter valued at approximately $57,900,000. Van ECK Associates Corp boosted its holdings in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in 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 during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on ON. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen reduced their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Mizuho set a $85.00 price target on shares of Onsemi in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Stock Down 2.3 %

Onsemi stock opened at $70.41 on Friday. The firm has a market capitalization of $29.98 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 7.75 and a beta of 1.65. The company’s 50 day simple moving average is $70.76 and its 200 day simple moving average is $71.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77.

Onsemi (NASDAQ:ON) last announced 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. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the firm posted $1.39 earnings per share. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Onsemi will post 4 EPS for the current year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.