Carmel Capital Partners LLC Buys 1,814 Shares of Onsemi (NASDAQ:ON)

Carmel Capital Partners LLC grew its position in shares of Onsemi (NASDAQ:ON) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,689 shares of the semiconductor company’s stock after purchasing an additional 1,814 shares during the quarter. Onsemi makes up about 0.7% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 28th largest position. Carmel Capital Partners LLC’s holdings in Onsemi were worth $1,720,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ON. Duality Advisers LP lifted its position in Onsemi by 60.0% in the first quarter. Duality Advisers LP now owns 18,209 shares of the semiconductor company’s stock valued at $1,339,000 after purchasing an additional 6,825 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Onsemi by 6.3% in the first quarter. Empirical Finance LLC now owns 8,982 shares of the semiconductor company’s stock worth $661,000 after acquiring an additional 529 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Onsemi by 15.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 22,273 shares of the semiconductor company’s stock valued at $1,638,000 after purchasing an additional 2,995 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Onsemi by 42.9% in the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after purchasing an additional 7,820 shares during the last quarter. Finally, Inspire Advisors LLC raised its holdings in shares of Onsemi by 31.1% during the first quarter. Inspire Advisors LLC now owns 8,592 shares of the semiconductor company’s stock valued at $632,000 after purchasing an additional 2,038 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

NASDAQ ON opened at $70.41 on Friday. The company has a market cap of $29.98 billion, a PE ratio of 17.47, a P/E/G ratio of 7.75 and a beta of 1.65. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm’s 50 day moving average price is $70.76 and its 200-day moving average price is $71.81.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ON. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. KeyCorp dropped their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Bank of America lifted their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.91.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction 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 approximately $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.