Covestor Ltd Has $71,000 Stock Holdings in Onsemi (NASDAQ:ON)

Covestor Ltd increased its holdings in shares of Onsemi (NASDAQ:ON) by 24.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 965 shares of the semiconductor company’s stock after buying an additional 190 shares during the quarter. Covestor Ltd’s holdings in Onsemi were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ON. M&G Plc bought a new position in Onsemi in the first quarter valued at about $57,900,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Onsemi in the first quarter valued at about $14,776,000. Twin Tree Management LP increased its stake in shares of Onsemi by 106.4% in the first quarter. Twin Tree Management LP now owns 1,908 shares of the semiconductor company’s stock valued at $140,000 after buying an additional 31,708 shares during the period. Great Lakes Retirement Inc. increased its stake in shares of Onsemi by 17.1% in the first quarter. Great Lakes Retirement Inc. now owns 3,109 shares of the semiconductor company’s stock valued at $229,000 after buying an additional 454 shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Onsemi by 24.3% in the first quarter. Orion Portfolio Solutions LLC now owns 53,002 shares of the semiconductor company’s stock valued at $3,898,000 after buying an additional 10,357 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Shares of NASDAQ ON opened at $70.11 on Thursday. The firm has a market capitalization of $30.16 billion, a P/E ratio of 14.31, a P/E/G ratio of 3.34 and a beta of 1.69. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The stock’s 50-day simple moving average is $72.72 and its two-hundred day simple moving average is $73.30. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. As a group, equities analysts anticipate that Onsemi will post 3.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ON. The Goldman Sachs Group decreased their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. TD Cowen dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Morgan Stanley cut Onsemi from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Benchmark cut their price objective on Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.36.

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.