Bellwether Advisors LLC Increases Stock Position in Onsemi (NASDAQ:ON)

Bellwether Advisors LLC increased its position in shares of Onsemi (NASDAQ:ON) by 54.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 137,684 shares of the semiconductor company’s stock after buying an additional 48,445 shares during the period. Onsemi accounts for 2.0% of Bellwether Advisors LLC’s holdings, making the stock its 13th biggest position. Bellwether Advisors LLC’s holdings in Onsemi were worth $9,438,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC purchased a new position in Onsemi during the second quarter valued at $2,327,000. Evexia Wealth LLC lifted its holdings in Onsemi by 97.3% during the second quarter. Evexia Wealth LLC now owns 7,364 shares of the semiconductor company’s stock valued at $505,000 after purchasing an additional 3,632 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Onsemi in the second quarter valued at about $55,000. Van ECK Associates Corp raised its position in shares of Onsemi by 7.9% in the second quarter. Van ECK Associates Corp now owns 2,765,975 shares of the semiconductor company’s stock valued at $189,608,000 after buying an additional 201,852 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its position in shares of Onsemi by 18.4% in the second quarter. Banque Cantonale Vaudoise now owns 17,156 shares of the semiconductor company’s stock valued at $1,177,000 after buying an additional 2,663 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research report on Thursday, June 13th. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Finally, Bank of America raised their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.61.

Insiders Place Their Bets

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

Onsemi Stock Performance

Shares of Onsemi stock traded up $1.57 during trading on Friday, reaching $77.87. The company’s stock had a trading volume of 4,811,900 shares, compared to its average volume of 6,239,124. The company has a 50-day moving average price of $73.16 and a two-hundred day moving average price of $72.98. The firm has a market cap of $33.36 billion, a PE ratio of 15.89, a P/E/G ratio of 4.18 and a beta of 1.69. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $101.30. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

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

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.