Custom Index Systems LLC Raises Holdings in Onsemi (NASDAQ:ON)

by · The Markets Daily

Custom Index Systems LLC increased its position in Onsemi (NASDAQ:ON – Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,633 shares of the semiconductor company’s stock after acquiring an additional 425 shares during the quarter. Custom Index Systems LLC’s holdings in Onsemi were worth $554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its position in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Onsemi during the 2nd quarter worth approximately $43,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Onsemi in the 1st quarter worth approximately $45,000. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. KeyCorp cut their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Roth Mkm increased their target price on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi has a consensus rating of “Hold” and a consensus target price of $85.74.

Read Our Latest Analysis on ON

Insider Activity

In other news, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,939 shares of company stock valued at $2,626,651. Corporate insiders own 0.31% of the company’s stock.

Onsemi Trading Up 1.7 %

Shares of NASDAQ ON traded up $1.17 during trading hours on Friday, hitting $71.25. The company’s stock had a trading volume of 10,772,095 shares, compared to its average volume of 6,725,912. The business has a 50-day simple moving average of $71.63 and a 200-day simple moving average of $71.39. The stock has a market cap of $30.65 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 3.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77.

Onsemi (NASDAQ:ON – Get Free Report) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. On average, analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

About Onsemi

(Free Report)

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.

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