Onsemi (NASDAQ:ON) Shares Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC increased its stake in shares of Onsemi (NASDAQ:ON) by 30.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,380 shares of the semiconductor company’s stock after purchasing an additional 3,850 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Onsemi were worth $1,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ON. US Bancorp DE lifted its stake in Onsemi by 83.9% in the first quarter. US Bancorp DE now owns 104,590 shares of the semiconductor company’s stock valued at $7,693,000 after buying an additional 47,721 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Onsemi by 3.8% during the 1st quarter. Bleakley Financial Group LLC now owns 7,688 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 282 shares during the period. Entropy Technologies LP acquired a new stake in shares of Onsemi during the first quarter worth about $555,000. State Board of Administration of Florida Retirement System grew its stake in shares of Onsemi by 12.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 541,666 shares of the semiconductor company’s stock valued at $39,840,000 after purchasing an additional 60,991 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Onsemi by 18.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 571,914 shares of the semiconductor company’s stock valued at $42,064,000 after buying an additional 90,966 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ON. Deutsche Bank Aktiengesellschaft increased their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Susquehanna boosted their price objective on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Needham & Company LLC cut their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Robert W. Baird boosted 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 assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.30.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Onsemi Trading Down 2.5 %

Shares of ON opened at $68.49 on Thursday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The stock has a market capitalization of $29.16 billion, a P/E ratio of 17.00, a P/E/G ratio of 7.53 and a beta of 1.65. The business’s 50-day moving average price is $70.55 and its 200 day moving average price is $71.94.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for 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 was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. Analysts expect that Onsemi will post 4 earnings per share 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.