Brooklyn Investment Group Takes $126,000 Position in Onsemi (NASDAQ:ON)

Brooklyn Investment Group purchased a new position in shares of Onsemi (NASDAQ:ON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,730 shares of the semiconductor company’s stock, valued at approximately $126,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ON. Capital Performance Advisors LLP purchased a new stake in Onsemi during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi in the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. increased its holdings in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted 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 buying an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Onsemi during the second quarter worth $43,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,500 shares of company stock worth $321,765 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ON has been the topic of a number of analyst reports. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Truist Financial cut their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on Onsemi in a research report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Price Performance

Onsemi stock opened at $70.35 on Thursday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $29.95 billion, a PE ratio of 17.46, a P/E/G ratio of 7.76 and a beta of 1.65. The firm’s 50-day simple moving average is $70.24 and its 200 day simple moving average is $71.81. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. On average, equities research analysts predict that Onsemi will post 4 EPS for the current fiscal year.

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.