Onsemi (NASDAQ:ON) Stake Raised by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 47.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,621 shares of the semiconductor company's stock after acquiring an additional 13,791 shares during the period. Meeder Asset Management Inc.'s holdings in Onsemi were worth $3,095,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Davis Investment Partners LLC increased its stake in Onsemi by 0.8% during the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company's stock worth $1,224,000 after acquiring an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company's stock valued at $43,000 after buying an additional 169 shares during the period. Greenleaf Trust lifted its position in Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company's stock valued at $382,000 after buying an additional 173 shares in the last quarter. Covestor Ltd lifted its position in Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company's stock valued at $71,000 after buying an additional 190 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its position in shares of Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company's stock worth $821,000 after acquiring an additional 192 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

ON has been the topic of several recent research reports. Truist Financial reduced their target price on shares of Onsemi from $97.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, October 29th. TD Cowen reduced their price objective on Onsemi from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded Onsemi from a "sell" rating to a "hold" rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their price target on Onsemi from $70.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an "underweight" rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Onsemi currently has an average rating of "Moderate Buy" and a consensus target price of $86.30.

Onsemi Stock Performance

Shares of NASDAQ ON traded up $0.17 during trading on Tuesday, reaching $66.65. The stock had a trading volume of 5,745,626 shares, compared to its average volume of 6,737,975. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market cap of $28.38 billion, a PE ratio of 16.54, a P/E/G ratio of 6.94 and a beta of 1.65. Onsemi has a one year low of $59.34 and a one year high of $86.77. The firm's 50 day moving average price is $70.34 and its two-hundred day moving average price is $71.84.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 23.80% and a return on equity of 22.38%. The firm's revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, research analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Onsemi Company 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.