Renaissance Investment Group LLC boosted its stake in onsemi (NASDAQ:ON – Get Rating ) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,105 shares of the semiconductor company’s stock after purchasing an additional 3,713 shares during the quarter. onsemi comprises about 1.7% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 26th largest holding. Renaissance Investment Group LLC’s holdings in onsemi were worth $5,869,000 as of its most recent filing with the Securities & Exchange Commission.
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A number of other institutional investors and hedge funds have also added to or reduced their stakes in ON. CoreCap Advisors LLC bought a new stake in shares of onsemi in the second quarter worth about $49,000. GHP Investment Advisors Inc. boosted its holdings in shares of onsemi by 66.3% in the third quarter. GHP Investment Advisors Inc. now owns 825 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 329 shares in the last quarter. Everence Capital Management Inc. increased its holdings in shares of onsemi by 104.7% in the third quarter. Everence Capital Management Inc. now owns 12,610 shares of the semiconductor company’s stock valued at $786,000 after acquiring an additional 6,450 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of onsemi by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 252,326 shares of the semiconductor company’s stock valued at $15,727,000 after acquiring an additional 1,721 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in shares of onsemi by 73.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 9,166 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 3,874 shares in the last quarter. Institutional investors own 96.84% of the company’s shares.
Internal transactions in onsemi
In other news, CEO Hassane El-Khoury sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $79.18, for a total transaction of $395,900.00. Following the transaction, the chief executive officer now owns 606,212 shares in the company, valued at $47,999,866.16. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other onsemi news, EVP Simon Keaton sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $80.00, for a total transaction of $320,000.00. Following the transaction, the executive vice president now owns 209,781 shares in the company, valued at approximately $16,782,480. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, CEO Hassane El-Khoury sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $79.18, for a total value of $395,900.00. Following the transaction, the chief executive officer now owns 606,212 shares in the company, valued at approximately $47,999,866.16. Disclosure of this sale can be found here. 0.40% of shares are owned by corporate insiders.
Onsemi Stock Performance
ON opened at $78.28 on Friday. onsemi has a 12 month low of $44.76 and a 12 month high of $87.55. The stock has a market cap of $33.81 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 4.95 and a beta of 1.74. The business has a 50 day moving average of $76.33 and a 200 day moving average of $69.99. The company has a quick ratio of 2.00, a current ratio of 2.78 and a debt-to-equity ratio of 0.49.
onsemi (NASDAQ:ON – Get Rating ) last posted its quarterly earnings data on Monday, February 6th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.08 billion. onsemi has a return on equity of 42.09% and a net margin of 22.85%. Business revenues increased by 13.9% year-on-year. During the same period last year, the firm posted earnings of $1.09 per share. On average, equities analysts anticipate that onsemi will post 4.42 earnings per share for the current 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 outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Stock buyback programs are often an indication that a company’s board of directors believes its stock is undervalued.
The Wall Street analyst weighs in
Several research analysts have recently weighed in on the company. Cowen boosted their price objective on onsemi from $81.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th. Truist Financial boosted their price objective on onsemi from $83.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of onsemi in a research report on Friday, March 10th. William Blair downgraded onsemi from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 10th. Finally, Morgan Stanley boosted their target price on onsemi from $70.40 to $89.00 and gave the stock an “equal weight” 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 issued a strong buy rating to the stock. Onsemi has an average rating of “Moderate Buy” and an average target price of $88.84, according to MarketBeat .
onsemi company profile
(Get Rating)
onsemi is engaged in revolutionary innovation and also a supplier of power and analog semiconductors. The company offers vehicle electrification and safety, sustainable energy grids, industrial automation and 5G and cloud infrastructure, with a focus on the automotive and industrial end markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group and Intelligent Sensing Group.
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