Wilmington Savings Fund Society FSB Takes Position in Onsemi (NASDAQ:ON)

Wilmington Savings Fund Society FSB purchased a new position in shares of Onsemi (NASDAQ:ON) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,353 shares of the semiconductor company’s stock, valued at approximately $389,000.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 purchasing an additional 665,633 shares during the last quarter. Van ECK Associates Corp boosted its position in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 380,471 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Onsemi by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after buying an additional 31,889 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Trading Up 0.7 %

NASDAQ ON opened at $66.44 on Tuesday. The firm has a market capitalization of $28.29 billion, a P/E ratio of 16.49, a PEG ratio of 7.07 and a beta of 1.63. The business has a fifty day simple moving average of $69.36 and a 200 day simple moving average of $71.33. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.10. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

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

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company started coverage on Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price objective for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.87.

Onsemi Company 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.