Lifestyle Asset Management Inc. Raises Stake in Onsemi (NASDAQ:ON)

Lifestyle Asset Management Inc. boosted its holdings in Onsemi (NASDAQ:ON) by 6.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,476 shares of the semiconductor company’s stock after purchasing an additional 815 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Onsemi were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ON. Davis Investment Partners LLC raised its holdings 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 valued at $1,224,000 after buying an additional 142 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the period. Greenleaf Trust grew its holdings in Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares in the last quarter. Covestor Ltd lifted its holdings in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after buying an additional 190 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its stake in shares of Onsemi by 1.7% during the third 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 in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ON has been the subject of several research analyst reports. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Susquehanna boosted their price objective on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Truist Financial decreased their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’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 completion of the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON opened at $72.05 on Friday. The company has a market capitalization of $30.68 billion, a PE ratio of 17.88, a PEG ratio of 7.45 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company’s 50 day moving average price is $70.91 and its 200 day moving average price is $71.74. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77.

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