Charles Schwab Investment Management Inc. Grows Stake in Onsemi (NASDAQ:ON)

Charles Schwab Investment Management Inc. lifted its stake in Onsemi (NASDAQ:ON) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,404,589 shares of the semiconductor company’s stock after purchasing an additional 31,889 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.56% of Onsemi worth $174,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC increased its holdings in shares of Onsemi by 4.2% in the 1st quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock worth $431,000 after purchasing an additional 239 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Onsemi by 4.6% during the 1st quarter. Lazard Asset Management LLC now owns 54,993 shares of the semiconductor company’s stock valued at $4,043,000 after acquiring an additional 2,401 shares during the period. Econ Financial Services Corp purchased a new stake in shares of Onsemi during the 1st quarter valued at about $885,000. Caxton Associates LP bought a new stake in Onsemi in the 1st quarter worth approximately $1,330,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Onsemi during the first quarter valued at $478,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

ON opened at $69.62 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $70.21 and a 200 day moving average of $71.79. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The stock has a market cap of $29.64 billion, a P/E ratio of 17.28, a PEG ratio of 7.34 and a beta of 1.65.

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

Wall Street Analyst Weigh In

A number of analysts have commented on ON shares. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Wells Fargo & Company began coverage on shares of Onsemi in a research note on Friday. They set an “overweight” rating and a $85.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. Truist Financial reduced their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

Insiders Place Their Bets

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 shares were 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 owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

Onsemi 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.