Caxton Associates LP Takes $1.33 Million Position in Onsemi (NASDAQ:ON)

Caxton Associates LP purchased a new stake in Onsemi (NASDAQ:ON) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 18,084 shares of the semiconductor company’s stock, valued at approximately $1,330,000.

Several other large investors have also modified their holdings of ON. Apollon Wealth Management LLC raised its stake in shares of Onsemi by 26.4% during the 4th quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock worth $592,000 after acquiring an additional 1,482 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Onsemi by 7,749.6% during the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after acquiring an additional 82,301 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Onsemi by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after acquiring an additional 35,362 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after acquiring an additional 637 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after acquiring an additional 4,900 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ON. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. Jefferies Financial Group began coverage on shares of Onsemi in a research note on Monday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. Mizuho dropped their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Stifel Nicolaus dropped their target price on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Finally, BNP Paribas reissued an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Onsemi Stock Performance

Shares of ON stock traded down $3.51 during trading hours on Tuesday, hitting $74.76. The company’s stock had a trading volume of 4,915,154 shares, compared to its average volume of 6,890,026. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $72.63 and a 200 day moving average of $73.19. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The stock has a market cap of $32.16 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. On average, sell-side analysts forecast that Onsemi will post 4.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.