CIBC Asset Management Inc Has $9.65 Million Position in Onsemi (NASDAQ:ON)

CIBC Asset Management Inc raised its stake in shares of Onsemi (NASDAQ:ON) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,903 shares of the semiconductor company’s stock after acquiring an additional 6,789 shares during the period. CIBC Asset Management Inc’s holdings in Onsemi were worth $9,650,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Onsemi during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Onsemi in the 3rd quarter valued at about $33,000. GHP Investment Advisors Inc. raised its stake in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Onsemi by 36.7% in the 2nd 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 during the period. Finally, International Assets Investment Management LLC bought a new stake in Onsemi in the 2nd quarter valued at about $43,000. 97.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Bank of America lifted their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Two 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’s stock. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Onsemi Stock Performance

Shares of ON stock opened at $64.76 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The stock has a 50 day moving average price of $70.43 and a two-hundred day moving average price of $71.87. The company has a market capitalization of $27.57 billion, a P/E ratio of 16.07, a PEG ratio of 7.34 and a beta of 1.65.

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