Toronto Dominion Bank Boosts Position in Onsemi (NASDAQ:ON)

Toronto Dominion Bank raised its stake in Onsemi (NASDAQ:ON) by 59.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,394 shares of the semiconductor company’s stock after purchasing an additional 90,293 shares during the period. Toronto Dominion Bank owned 0.06% of Onsemi worth $16,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC grew its position in shares of Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after buying an additional 164 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 purchasing an additional 169 shares during the last quarter. Covestor Ltd increased its position in shares of Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 190 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Onsemi by 4.4% in the 1st quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock valued at $392,000 after purchasing an additional 226 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of Onsemi by 4.2% in the 1st quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock valued at $431,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Up 5.3 %

ON opened at $73.32 on Friday. 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 has a 12 month low of $59.34 and a 12 month high of $95.67. The stock has a market capitalization of $31.41 billion, a P/E ratio of 14.96, a P/E/G ratio of 3.74 and a beta of 1.66. The business has a 50 day simple moving average of $72.39 and a 200-day simple moving average of $71.98.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. Onsemi’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. On average, equities analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Rosenblatt Securities lifted their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. KeyCorp cut their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Susquehanna lifted their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.61.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the company’s 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 sale, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Onsemi 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.