Tidal Investments LLC Has $1.61 Million Stock Position in Onsemi (NASDAQ:ON)

Tidal Investments LLC decreased its stake in Onsemi (NASDAQ:ON) by 35.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,183 shares of the semiconductor company’s stock after selling 12,025 shares during the quarter. Tidal Investments LLC’s holdings in Onsemi were worth $1,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Onsemi during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. boosted its position in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi during the 3rd quarter worth about $43,000. Finally, International Assets Investment Management LLC acquired a new stake in Onsemi during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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. Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. Robert W. Baird raised their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $67.74 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $69.36 and its two-hundred day moving average is $71.33. The company has a market cap of $28.84 billion, a P/E ratio of 16.81, a P/E/G ratio of 7.07 and a beta of 1.63. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.10.

Onsemi (NASDAQ:ON) last issued its quarterly 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. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. On average, equities analysts expect that Onsemi will post 4 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.