Johnson Financial Group Inc. Acquires New Stake in Onsemi (NASDAQ:ON)

Johnson Financial Group Inc. acquired a new stake in Onsemi (NASDAQ:ON) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,628 shares of the semiconductor company’s stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ON. Provence Wealth Management Group bought a new stake in Onsemi during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi during the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the fourth quarter valued at $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the fourth quarter valued at $33,000. Finally, Hanseatic Management Services Inc. bought a new stake in Onsemi during the third quarter valued at $38,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

Shares of ON stock traded up $0.91 during trading hours on Friday, hitting $72.56. 5,172,367 shares of the company were exchanged, compared to its average volume of 6,723,057. The firm has a fifty day simple moving average of $70.41 and a 200 day simple moving average of $74.29. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The stock has a market capitalization of $31.22 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 3.31 and a beta of 1.78.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business posted $1.19 EPS. Onsemi’s quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts predict that Onsemi will post 3.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on ON. KeyCorp cut their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. The Goldman Sachs Group cut their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Susquehanna cut their price objective on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Tuesday, April 30th. Rosenblatt Securities cut their price objective on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group assumed coverage on shares of Onsemi in a research report on Monday, May 13th. They set a “buy” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.28.

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.