Pacer Advisors Inc. Boosts Holdings in Onsemi (NASDAQ:ON)

Pacer Advisors Inc. boosted its holdings in shares of Onsemi (NASDAQ:ON) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 75,692 shares of the semiconductor company’s stock after buying an additional 13,412 shares during the quarter. Pacer Advisors Inc.’s holdings in Onsemi were worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mackenzie Financial Corp raised its stake in shares of Onsemi by 24.6% in the second quarter. Mackenzie Financial Corp now owns 45,299 shares of the semiconductor company’s stock worth $3,105,000 after buying an additional 8,950 shares during the period. Creative Planning raised its stake in Onsemi by 11.2% during the 2nd quarter. Creative Planning now owns 21,991 shares of the semiconductor company’s stock worth $1,507,000 after acquiring an additional 2,215 shares during the period. NewEdge Advisors LLC lifted its holdings in Onsemi by 5.9% during the second quarter. NewEdge Advisors LLC now owns 26,674 shares of the semiconductor company’s stock valued at $1,829,000 after purchasing an additional 1,476 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Onsemi in the second quarter worth $4,360,000. Finally, Centaurus Financial Inc. increased its stake in shares of Onsemi by 9.8% in the second quarter. Centaurus Financial Inc. now owns 16,723 shares of the semiconductor company’s stock worth $1,146,000 after purchasing an additional 1,494 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, November 25th. The stock was 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ON. Wells Fargo & Company cut their price target on Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. TD Cowen cut their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Truist Financial reissued a “hold” rating and issued a $60.00 price target (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Finally, Roth Mkm reissued a “buy” rating and issued a $100.00 target price on shares of Onsemi in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.70.

Onsemi Trading Down 0.9 %

Shares of ON opened at $53.27 on Friday. The company’s fifty day simple moving average is $62.92 and its 200-day simple moving average is $68.57. The company has a market cap of $22.68 billion, a P/E ratio of 13.22, a P/E/G ratio of 10.62 and a beta of 1.64. 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 has a twelve month low of $51.81 and a twelve month high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping 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 analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $1.39 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, analysts expect that Onsemi will post 4 EPS for the current year.

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.