Aptus Capital Advisors LLC Purchases Shares of 33,949 Onsemi (NASDAQ:ON)

Aptus Capital Advisors LLC acquired a new position in Onsemi (NASDAQ:ON) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,949 shares of the semiconductor company’s stock, valued at approximately $2,327,000.

A number of other institutional investors have also made changes to their positions in ON. MeadowBrook Investment Advisors LLC bought a new stake in shares of Onsemi in the fourth quarter worth $33,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi in the fourth quarter worth $33,000. Westside Investment Management Inc. raised its position in Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Onsemi during the second quarter worth $43,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ON shares. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Jefferies Financial Group started coverage on shares of Onsemi in a research report on Monday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Susquehanna upped their price target on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Rosenblatt Securities upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.61.

Onsemi Trading Up 2.1 %

Shares of Onsemi stock opened at $77.87 on Monday. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 4.18 and a beta of 1.69. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a 12-month low of $59.34 and a 12-month high of $101.30. The firm’s 50-day moving average price is $73.16 and its two-hundred day moving average price is $72.92.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated 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 owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 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.