M&T Bank Corp Acquires 2,110 Shares of Onsemi (NASDAQ:ON)

M&T Bank Corp lifted its stake in Onsemi (NASDAQ:ON) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,519 shares of the semiconductor company’s stock after buying an additional 2,110 shares during the period. M&T Bank Corp’s holdings in Onsemi were worth $2,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bridgewater Associates LP increased its holdings in shares of Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after buying an additional 1,109,778 shares in the last quarter. American Century Companies Inc. increased its holdings in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after purchasing an additional 909,558 shares in the last quarter. Van ECK Associates Corp raised its position in Onsemi by 26.4% in the 3rd 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. Dimensional Fund Advisors LP boosted its stake in Onsemi by 18.7% in the second 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. Finally, 1832 Asset Management L.P. grew its holdings in shares of Onsemi by 66.4% during the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after purchasing an additional 574,900 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,500 shares of company stock worth $321,765. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ON shares. KeyCorp decreased their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Roth Mkm reissued a “buy” rating and issued a $100.00 price target on shares of Onsemi in a report on Thursday. Robert W. Baird upped their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Loop Capital assumed coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Down 1.7 %

Shares of Onsemi stock opened at $65.96 on Friday. The company has a market capitalization of $28.09 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 7.29 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The business has a 50-day moving average of $69.45 and a two-hundred day moving average of $71.39. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77.

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