Second Half Financial Partners LLC Takes $227,000 Position in Onsemi (NASDAQ:ON)

Second Half Financial Partners LLC bought a new position in Onsemi (NASDAQ:ON) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,132 shares of the semiconductor company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB bought a new position in shares of Onsemi during the first quarter valued at about $90,274,000. American Century Companies Inc. grew its position 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 worth $76,167,000 after acquiring an additional 909,558 shares during the last quarter. Van ECK Associates Corp increased its stake 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 worth $237,559,000 after purchasing an additional 729,081 shares during the period. Dimensional Fund Advisors LP lifted its position 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 valued at $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake 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 valued at $98,743,000 after purchasing an additional 574,900 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ON. 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. Morgan Stanley upped their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Bank of America raised their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Roth Mkm lifted their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The stock was 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 owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Shares of NASDAQ ON opened at $66.04 on Tuesday. The firm has a market cap of $28.12 billion, a P/E ratio of 16.50, a PEG ratio of 6.94 and a beta of 1.65. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. 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 company has a 50 day moving average of $70.37 and a 200 day moving average of $71.87.

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 the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. The company’s revenue was down 19.2% on a year-over-year basis. As a group, research analysts expect that Onsemi will post 4 EPS for the current fiscal 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.