Inspire Advisors LLC Grows Stock Position in Onsemi (NASDAQ:ON)

Inspire Advisors LLC lifted its stake in Onsemi (NASDAQ:ON) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,997 shares of the semiconductor company’s stock after buying an additional 405 shares during the period. Inspire Advisors LLC’s holdings in Onsemi were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ON. Private Advisor Group LLC increased its holdings in Onsemi by 23.5% during the 4th quarter. Private Advisor Group LLC now owns 8,551 shares of the semiconductor company’s stock valued at $714,000 after purchasing an additional 1,625 shares during the period. Principal Securities Inc. purchased a new position in shares of Onsemi during the 4th quarter worth approximately $204,000. Avantax Advisory Services Inc. grew its holdings in shares of Onsemi by 2.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,539 shares of the semiconductor company’s stock worth $713,000 after acquiring an additional 213 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Onsemi by 52.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,119 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 729 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Onsemi during the 4th quarter worth approximately $278,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insiders Place Their Bets

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the 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 completion of the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ON has been the topic of a number of research analyst reports. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and set a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. TD Cowen boosted 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. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Finally, StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Onsemi has a consensus rating of “Hold” and a consensus target price of $85.61.

Onsemi Trading Up 3.4 %

NASDAQ:ON opened at $71.72 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The firm has a market capitalization of $30.86 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 3.79 and a beta of 1.66. Onsemi has a one year low of $59.34 and a one year high of $98.07. The business has a fifty day moving average price of $73.27 and a 200-day moving average price of $72.44.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $1.33 EPS. Onsemi’s revenue was down 17.2% on a year-over-year basis. Sell-side analysts forecast that Onsemi will post 4.01 EPS for the current year.

Onsemi Company 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.