onsemi $ON Shares Acquired by CenterBook Partners LP

CenterBook Partners LP grew its holdings in onsemi (NASDAQ:ON) by 162.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 187,420 shares of the semiconductor company’s stock after acquiring an additional 115,987 shares during the period. onsemi accounts for approximately 0.6% of CenterBook Partners LP’s investment portfolio, making the stock its 25th biggest holding. CenterBook Partners LP’s holdings in onsemi were worth $14,407,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Greenleaf Trust raised its holdings in shares of onsemi by 2.5% during the third quarter. Greenleaf Trust now owns 5,890 shares of the semiconductor company’s stock valued at $453,000 after acquiring an additional 144 shares in the last quarter. Compound Planning Inc. boosted its holdings in onsemi by 3.9% in the first quarter. Compound Planning Inc. now owns 4,733 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 179 shares in the last quarter. Brookstone Capital Management increased its position in onsemi by 5.6% during the 3rd quarter. Brookstone Capital Management now owns 5,318 shares of the semiconductor company’s stock valued at $409,000 after purchasing an additional 284 shares during the period. Integrated Wealth Concepts LLC increased its position in onsemi by 1.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 22,059 shares of the semiconductor company’s stock valued at $2,085,000 after purchasing an additional 298 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in onsemi by 2.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 12,640 shares of the semiconductor company’s stock worth $969,000 after purchasing an additional 311 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Insider Transactions at onsemi

In related news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares of the company’s stock, valued at $12,654,160. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is currently owned by company insiders.

Key onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s AI data-center sales were reportedly up 175%, giving investors a fast-growing business line to watch as demand for AI infrastructure supports semiconductor suppliers. Article: Onsemi’s AI Data Center Sales Reportedly Grew 175%
• Neutral Sentiment: Analyst opinions are divided: Craig Hallum upgraded the stock and Truist maintained an optimistic outlook, while TD Cowen and Cantor Fitzgerald were more cautious. This mix may limit the impact of any one rating on the shares. Article: onsemi Rating Upgraded by Craig Hallum
• Negative Sentiment: Several firms have lowered price expectations, including Citigroup, B. Riley, Goldman Sachs and Mizuho, signaling continued concern about valuation or the near-term outlook. Article: onsemi Price Target Cut by Citigroup
• Negative Sentiment: onsemi has also been caught in a broader post-midterm selloff in AI-related semiconductor stocks, alongside Navitas and STMicroelectronics; the report cited no new company-specific news behind that sector pressure. Article: AI Chip Stocks Slide After Midterms

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial raised their target price on shares of onsemi from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Tuesday. Craig Hallum upgraded shares of onsemi from a “hold” rating to a “buy” rating and boosted their price target for the company from $60.00 to $85.00 in a research report on Tuesday. Robert W. Baird increased their price target on shares of onsemi from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of onsemi from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Seaport Research Partners started coverage on onsemi in a research report on Tuesday, September 22nd. They set a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.03.

onsemi Stock Up 0.5%

ON traded up $0.30 during trading on Friday, reaching $63.31. The stock had a trading volume of 14,214,452 shares, compared to its average volume of 10,179,842. The company has a current ratio of 3.46, a quick ratio of 2.49 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 36.81, a P/E/G ratio of 0.58 and a beta of 2.11. The stock’s 50 day moving average is $74.22 and its two-hundred day moving average is $82.16. onsemi has a one year low of $44.56 and a one year high of $134.92.

onsemi (NASDAQ:ON) last announced its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. onsemi had a net margin of 10.82% and a return on equity of 15.61%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, analysts expect that onsemi will post 3.27 earnings per share for the current 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.