14,971 Shares in Onsemi (NASDAQ:ON) Purchased by World Investment Advisors LLC

World Investment Advisors LLC purchased a new position in shares of Onsemi (NASDAQ:ON) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 14,971 shares of the semiconductor company’s stock, valued at approximately $1,087,000.

Several other large investors also recently made changes to their positions in ON. Geode Capital Management LLC raised its stake in Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the period. Dimensional Fund Advisors LP raised its stake 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 valued at $289,088,000 after acquiring an additional 665,633 shares during the period. Van ECK Associates Corp lifted its holdings in Onsemi by 26.4% during 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. Allspring Global Investments Holdings LLC boosted its position in 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 worth $215,518,000 after purchasing an additional 380,471 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Onsemi by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after purchasing an additional 31,889 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ON. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Truist Financial dropped their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Mizuho set a $85.00 price target on shares of Onsemi in a research report on Friday, October 18th. Finally, Wells Fargo & Company started coverage on Onsemi in a research report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average price target of $85.87.

Onsemi Stock Performance

Shares of Onsemi stock opened at $65.96 on Monday. The business has a 50-day simple moving average of $69.45 and a 200 day simple moving average of $71.37. The firm has a market capitalization of $28.09 billion, a price-to-earnings ratio of 16.37, a PEG 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. Onsemi has a one year low of $59.34 and a one year high of $86.77.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. On average, research analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

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.