Hassane El-Khoury Sells 5,000 Shares of onsemi (NASDAQ:ON) Stock

onsemi (NASDAQ:ON – Get Rating) CEO Hassane El-Khoury sold 5,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $79.18, for a total value of $395,900.00. Following the completion of the transaction, the chief executive officer now directly owns 606,212 shares in the company, valued at approximately $47,999,866.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

onsemi Stock Performance

NASDAQ ON opened at $78.28 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.78 and a quick ratio of 2.00. onsemi has a 1-year low of $44.76 and a 1-year high of $87.55. The business has a 50 day simple moving average of $76.33 and a two-hundred day simple moving average of $69.98. The stock has a market capitalization of $33.81 billion, a PE ratio of 18.42, a P/E/G ratio of 4.80 and a beta of 1.74.

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

onsemi declared that its board has approved a stock buyback program on Monday, February 6th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Summit Insights raised onsemi from a “hold” rating to a “buy” rating in a report on Monday, February 6th. Citigroup increased their target price on onsemi from $75.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Morgan Stanley upped their price target on onsemi from $70.40 to $89.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 7th. Needham & Company LLC restated a “strong-buy” rating and issued a $100.00 price target on shares of onsemi in a research report on Friday, March 10th. Finally, Rosenblatt Securities upped their price target on onsemi from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.84.

Institutional Investors Weigh In On onsemi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ON. GHP Investment Advisors Inc. bought a new position in shares of onsemi during the 2nd quarter valued at approximately $25,000. Godsey & Gibb Inc. bought a new position in onsemi during the fourth quarter valued at $25,000. FinTrust Capital Advisors LLC bought a new position in onsemi during the fourth quarter valued at $25,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of onsemi in the 3rd quarter worth about $30,000. Finally, BerganKDV Wealth Management LLC boosted its stake in shares of onsemi by 348.3% during the 4th quarter. BerganKDV Wealth Management LLC now owns 520 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 404 shares during the period. 96.84% of the stock is currently owned by hedge funds and other institutional investors.

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.