Arcadia Investment Management Corp MI Acquires New Stake in Onsemi (NASDAQ:ON)

Arcadia Investment Management Corp MI acquired a new position in shares of Onsemi (NASDAQ:ON) in the third quarter, HoldingsChannel reports. The firm acquired 1,200 shares of the semiconductor company’s stock, valued at approximately $87,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Davis Investment Partners LLC lifted its stake in shares of Onsemi by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after purchasing an additional 142 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares during the period. Greenleaf Trust boosted its stake in Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares during the last quarter. Covestor Ltd grew its holdings in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 190 shares during the period. Finally, Meridian Financial Partners LLC increased its stake 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.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $70.99 on Friday. The stock has a 50 day moving average of $71.27 and a 200-day moving average of $71.52. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a market capitalization of $30.23 billion, a P/E ratio of 17.62, a P/E/G ratio of 7.56 and a beta of 1.65. The company has a current ratio of 3.07, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30.

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

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. KeyCorp decreased their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Truist Financial lowered their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $75.00 price objective 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 fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $85.91.

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.