Entropy Technologies LP Takes Position in Onsemi (NASDAQ:ON)

Entropy Technologies LP acquired a new position in shares of Onsemi (NASDAQ:ON) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 29,572 shares of the semiconductor company’s stock, valued at approximately $2,147,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Investment Partners LLC grew its holdings in shares of Onsemi by 0.8% during the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after buying an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% during 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 last quarter. Greenleaf Trust grew its stake in Onsemi by 3.4% in the 3rd 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 raised its holdings in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 190 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its stake in shares of Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 192 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of ON stock opened at $70.23 on Wednesday. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The company has a market capitalization of $29.90 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 7.50 and a beta of 1.65. 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 $70.59 and a 200-day simple moving average of $71.96.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm earned $1.39 earnings per share. The company’s revenue was down 19.2% on a year-over-year basis. Equities research analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ON has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Mizuho set a $85.00 target price on shares of Onsemi in a research report on Friday, October 18th. Morgan Stanley upped their price target on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and a consensus price target of $86.30.

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.