Pallas Capital Advisors LLC Buys 2,836 Shares of Onsemi (NASDAQ:ON)

Pallas Capital Advisors LLC grew its holdings in shares of Onsemi (NASDAQ:ON) by 16.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,467 shares of the semiconductor company’s stock after acquiring an additional 2,836 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Onsemi were worth $1,544,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Private Wealth Management Group LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. Westside Investment Management Inc. increased its stake in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the period. Fidelis Capital Partners LLC purchased a new position in Onsemi in the 1st quarter worth approximately $45,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of Onsemi stock traded down $1.82 during mid-day trading on Tuesday, reaching $75.90. 2,787,053 shares of the stock traded hands, compared to its average volume of 6,963,623. The business has a 50-day moving average of $72.34 and a 200 day moving average of $73.03. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $101.30. The stock has a market capitalization of $32.51 billion, a PE ratio of 15.86, a PEG ratio of 3.33 and a beta of 1.69. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 earnings per share. On average, analysts predict that Onsemi will post 4.01 EPS for the current year.

Analysts Set New Price Targets

ON has been the topic of a number of recent analyst reports. Mizuho cut their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Susquehanna lifted their price objective on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Benchmark lifted their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company dropped their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.61.

Insider Transactions at Onsemi

In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.