Onsemi (NASDAQ:ON) Shares Purchased by Baron Wealth Management LLC

Baron Wealth Management LLC lifted its stake in Onsemi (NASDAQ:ON) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,661 shares of the semiconductor company’s stock after purchasing an additional 318 shares during the quarter. Baron Wealth Management LLC’s holdings in Onsemi were worth $629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Davis Investment Partners LLC grew its position in Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares during the period. Greenleaf Trust grew its position in Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after acquiring an additional 173 shares during the period. Covestor Ltd grew its position in Onsemi by 24.5% in the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares during the period. Finally, Meridian Financial Partners LLC boosted its position in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

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

Wall Street Analyst Weigh In

ON has been the subject of several research analyst reports. TD Cowen lowered their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Robert W. Baird lifted their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Morgan Stanley lifted their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $86.30.

Onsemi Price Performance

NASDAQ:ON opened at $66.48 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. 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 has a fifty day simple moving average of $70.37 and a 200 day simple moving average of $71.87. The stock has a market capitalization of $28.31 billion, a PE ratio of 16.50, a P/E/G ratio of 6.94 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its 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 return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The company’s revenue was down 19.2% on a year-over-year basis. On average, research analysts expect that Onsemi will post 4 EPS 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.