Lido Advisors LLC Invests $219,000 in onsemi (NASDAQ:ON)

Lido Advisors LLC acquired a new stake in shares of onsemi (NASDAQ:ON – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,520 shares of the semiconductor company’s stock, valued at approximately $219,000.

Several other large investors also recently bought and sold shares of the business. GHP Investment Advisors Inc. bought a new position in shares of onsemi during the 2nd quarter valued at $25,000. Bradley & Co. Private Wealth Management LLC bought a new position in onsemi in the third quarter valued at about $30,000. Mizuho Securities Co. Ltd. purchased a new position in onsemi in the third quarter worth about $37,000. CoreCap Advisors LLC bought a new stake in shares of onsemi during the 2nd quarter valued at about $49,000. Finally, Desjardins Global Asset Management Inc. purchased a new stake in shares of onsemi during the 2nd quarter valued at about $54,000. 96.84% of the stock is currently owned by institutional investors.

onsemi Price Performance

NASDAQ:ON opened at $78.38 on Friday. The business’s 50-day moving average is $74.58 and its 200 day moving average is $69.73. onsemi has a 12 month low of $44.76 and a 12 month high of $87.55. The company has a market capitalization of $33.86 billion, a P/E ratio of 18.44, a P/E/G ratio of 4.82 and a beta of 1.74. The company has a current ratio of 2.78, a quick ratio of 2.00 and a debt-to-equity ratio of 0.49.

onsemi (NASDAQ:ON – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. onsemi had a return on equity of 42.09% and a net margin of 22.85%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that onsemi will post 4.42 earnings per share for the current fiscal year.

onsemi declared that its board has approved a stock repurchase program on Monday, February 6th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at onsemi

In other news, EVP Simon Keeton sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $80.00, for a total transaction of $320,000.00. Following the sale, the executive vice president now directly owns 209,781 shares in the company, valued at approximately $16,782,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Cowen boosted their target price on shares of onsemi from $81.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, February 7th. Craig Hallum upped their price objective on onsemi from $75.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, February 7th. Morgan Stanley lifted their target price on onsemi from $70.40 to $89.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 7th. Wells Fargo & Company upped their price target on onsemi from $75.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Finally, Summit Insights raised onsemi from a “hold” rating to a “buy” rating in a research report on Monday, February 6th. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $88.84.

onsemi Company Profile

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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.