Ieq Capital LLC Purchases 7,034 Shares of onsemi (NASDAQ:ON)

Ieq Capital LLC boosted its position in shares of onsemi (NASDAQ:ON – Get Rating) by 59.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,798 shares of the semiconductor company’s stock after buying an additional 7,034 shares during the quarter. Ieq Capital LLC’s holdings in onsemi were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new stake in onsemi during the 2nd quarter valued at $25,000. Assetmark Inc. purchased a new position in onsemi during the 2nd quarter valued at $27,000. Bradley & Co. Private Wealth Management LLC purchased a new position in onsemi during the 3rd quarter valued at $30,000. Mizuho Securities Co. Ltd. purchased a new position in onsemi during the 3rd quarter valued at $37,000. Finally, Geneos Wealth Management Inc. increased its position in onsemi by 28.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 905 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 200 shares during the period. 96.84% of the stock is currently owned by institutional investors.

onsemi Price Performance

ON opened at $70.08 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.12 and a current ratio of 3.02. The stock has a market capitalization of $30.30 billion, a P/E ratio of 18.16, a P/E/G ratio of 0.77 and a beta of 1.76. The company’s 50-day simple moving average is $67.28 and its two-hundred day simple moving average is $66.06. onsemi has a 52-week low of $44.76 and a 52-week high of $77.28.

onsemi (NASDAQ:ON – Get Rating) last posted its earnings results on Monday, October 31st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.14. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.12 billion. onsemi had a net margin of 21.36% and a return on equity of 43.37%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, analysts predict that onsemi will post 5.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Needham & Company LLC reduced their price objective on shares of onsemi from $80.00 to $73.00 in a research report on Tuesday, October 25th. Morgan Stanley boosted their price objective on shares of onsemi from $65.00 to $70.40 and gave the company an “equal weight” rating in a research report on Tuesday, November 1st. UBS Group reduced their target price on shares of onsemi to $65.00 in a research report on Friday, November 4th. Susquehanna reduced their target price on shares of onsemi from $82.00 to $80.00 and set a “positive” rating on the stock in a research report on Tuesday, November 1st. Finally, Rosenblatt Securities reduced their target price on shares of onsemi to $75.00 in a research report on Friday, November 4th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, onsemi has an average rating of “Moderate Buy” and a consensus target price of $74.64.

onsemi Profile

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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.