Tidal Investments LLC Raises Position in Onsemi (NASDAQ:ON)

Tidal Investments LLC raised its position in shares of Onsemi (NASDAQ:ON) by 19.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,640 shares of the semiconductor company’s stock after buying an additional 6,792 shares during the quarter. Tidal Investments LLC’s holdings in Onsemi were worth $3,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after acquiring an additional 321,682 shares during the period. Capital World Investors bought a new position in shares of Onsemi in the 4th quarter valued at about $697,276,000. Norges Bank acquired a new stake in Onsemi in the 4th quarter valued at about $418,102,000. Capital International Investors lifted its position in Onsemi by 1.0% during the first quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after acquiring an additional 42,117 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Onsemi by 25.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after buying an additional 645,969 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of NASDAQ ON traded down $4.66 during trading hours on Thursday, reaching $73.59. 2,629,048 shares of the stock traded hands, compared to its average volume of 6,935,295. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The company’s 50-day simple moving average is $72.65 and its two-hundred day simple moving average is $73.19. The company has a market capitalization of $31.52 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 3.22 and a beta of 1.69. Onsemi has a 52-week low of $59.34 and a 52-week high of $107.16.

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

Insider Buying and Selling at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at $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 that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, 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. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. B. Riley restated a “buy” rating and set a $103.00 price objective (down previously from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Truist Financial upped their target price on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Mkm raised their price target on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus lowered their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.63.

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.