BluePath Capital Management LLC Has $813,000 Position in Onsemi (NASDAQ:ON)

BluePath Capital Management LLC lifted its stake in Onsemi (NASDAQ:ON) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,196 shares of the semiconductor company’s stock after purchasing an additional 2,139 shares during the period. BluePath Capital Management LLC’s holdings in Onsemi were worth $813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Davis Investment Partners LLC increased its holdings in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Greenleaf Trust raised its position in shares of Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after acquiring an additional 173 shares during the last quarter. Covestor Ltd raised its position in shares of Onsemi by 24.5% during the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 190 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its position in shares of Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ON. TD Cowen dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Truist Financial lowered their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America upped their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.91.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $70.99 on Friday. The firm has a market cap of $30.23 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 7.89 and a beta of 1.65. The firm’s fifty day moving average is $71.27 and its 200-day moving average is $71.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 3.07. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 earnings per share. Sell-side analysts predict that Onsemi will post 4 earnings per share for the current year.

About Onsemi

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.