BlueCrest Capital Management Ltd Has $1.29 Million Stake in Onsemi (NASDAQ:ON)

BlueCrest Capital Management Ltd lifted its stake in shares of Onsemi (NASDAQ:ON) by 172.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,700 shares of the semiconductor company’s stock after acquiring an additional 11,200 shares during the period. BlueCrest Capital Management Ltd’s holdings in Onsemi were worth $1,285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Public Sector Pension Investment Board raised its stake in Onsemi by 8.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company’s stock worth $1,337,000 after buying an additional 1,500 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Onsemi during the third quarter valued at approximately $391,000. Glenmede Trust Co. NA raised its position in shares of Onsemi by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 481,122 shares of the semiconductor company’s stock worth $34,934,000 after purchasing an additional 22,429 shares during the period. Bridgewater Associates LP lifted its holdings in shares of Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. Finally, Townsquare Capital LLC grew its position in Onsemi by 105.0% in the 3rd quarter. Townsquare Capital LLC now owns 6,561 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 3,360 shares during the period. 97.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ON has been the topic of several research reports. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Robert W. Baird raised their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Wells Fargo & Company began coverage on Onsemi in a report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective for the company. Truist Financial lowered their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, KeyCorp lowered their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 4,500 shares of company stock worth $321,765. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Up 1.1 %

ON stock opened at $71.12 on Friday. The stock has a fifty day moving average of $70.17 and a 200-day moving average of $71.79. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 7.54 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $1.39 earnings per share. The company’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, equities research analysts predict that Onsemi will post 4 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.