Optimum Investment Advisors Has $189,000 Stock Position in Onsemi (NASDAQ:ON)

Optimum Investment Advisors reduced its position in shares of Onsemi (NASDAQ:ON) by 36.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,600 shares of the semiconductor company’s stock after selling 1,500 shares during the quarter. Optimum Investment Advisors’ holdings in Onsemi were worth $189,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ON. Swedbank AB acquired a new position in Onsemi during the 1st quarter worth approximately $90,274,000. American Century Companies Inc. increased its holdings in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after purchasing an additional 909,558 shares in the last quarter. M&G Plc bought a new stake in Onsemi during the 1st quarter worth approximately $57,900,000. Dimensional Fund Advisors LP increased its holdings in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after purchasing an additional 574,900 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen boosted their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Benchmark upped 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, Roth Mkm upped their target price on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Onsemi has a consensus rating of “Hold” and a consensus price target of $85.83.

Onsemi Trading Up 0.3 %

NASDAQ:ON opened at $69.24 on Friday. The company has a market cap of $29.79 billion, a P/E ratio of 14.13, a P/E/G ratio of 3.81 and a beta of 1.65. The stock’s fifty day moving average price is $72.14 and its two-hundred day moving average price is $71.46. Onsemi has a 1 year low of $59.34 and a 1 year high of $90.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95.

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, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The business’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, analysts expect that Onsemi will post 4.01 EPS for the current year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were 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 directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,939 shares of company stock worth $2,626,651. Corporate 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.