Logan Capital Management Inc. Has $6.01 Million Stock Position in Onsemi (NASDAQ:ON)

Logan Capital Management Inc. cut its holdings in Onsemi (NASDAQ:ON) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 82,756 shares of the semiconductor company’s stock after selling 1,667 shares during the quarter. Logan Capital Management Inc.’s holdings in Onsemi were worth $6,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares in the last quarter. Van ECK Associates Corp raised its position in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Onsemi by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Onsemi by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after purchasing an additional 31,889 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Onsemi in a report on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. Loop Capital began coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and set a $100.00 target price on shares of Onsemi in a research report on Thursday. Finally, Morgan Stanley upped their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $85.87.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 4,500 shares of company stock worth $321,765 over the last quarter. Insiders own 0.31% of the company’s stock.

Onsemi Stock Down 1.5 %

ON stock traded down $1.04 during mid-day trading on Friday, reaching $66.07. 912,761 shares of the company traded hands, compared to its average volume of 6,655,529. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 7.29 and a beta of 1.63. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm’s 50 day moving average price is $69.56 and its 200 day moving average price is $71.43. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% compared to the same quarter last year. As a group, equities research analysts predict that Onsemi will post 4 EPS for the current fiscal 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.