Inspire Investing LLC Buys 1,639 Shares of Onsemi (NASDAQ:ON)

Inspire Investing LLC grew its stake in shares of Onsemi (NASDAQ:ON) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,966 shares of the semiconductor company’s stock after purchasing an additional 1,639 shares during the period. Inspire Investing LLC’s holdings in Onsemi were worth $3,592,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blair William & Co. IL lifted its position in Onsemi by 11.3% during the 2nd quarter. Blair William & Co. IL now owns 4,249 shares of the semiconductor company’s stock valued at $291,000 after acquiring an additional 432 shares during the period. Public Sector Pension Investment Board lifted its position in Onsemi by 77.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 16,909 shares of the semiconductor company’s stock valued at $1,159,000 after acquiring an additional 7,386 shares during the period. Marshall Wace LLP lifted its position in Onsemi by 82.4% during the 2nd quarter. Marshall Wace LLP now owns 269,724 shares of the semiconductor company’s stock valued at $18,490,000 after acquiring an additional 121,870 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Onsemi by 59.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,847 shares of the semiconductor company’s stock valued at $5,611,000 after acquiring an additional 30,425 shares during the period. Finally, Toronto Dominion Bank lifted its position in Onsemi by 59.8% during the 2nd quarter. Toronto Dominion Bank now owns 241,394 shares of the semiconductor company’s stock valued at $16,548,000 after acquiring an additional 90,293 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Onsemi stock opened at $56.03 on Thursday. The company has a market cap of $23.86 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 10.54 and a beta of 1.64. The firm’s fifty day moving average is $64.42 and its 200 day moving average is $69.40. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a 52-week low of $53.10 and a 52-week high of $85.16.

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

Wall Street Analysts Forecast Growth

ON has been the subject of several recent analyst reports. BNP Paribas decreased their target price on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. KeyCorp decreased their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Roth Mkm reissued a “buy” rating and set a $100.00 price objective on shares of Onsemi in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.26.

Insider Activity

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

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.