Renaissance Investment Group LLC Acquires 3,713 Shares of onsemi (NASDAQ:ON)

Renaissance Investment Group LLC lifted its holdings in onsemi (NASDAQ:ON – Get Rating) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,105 shares of the semiconductor company’s stock after acquiring an additional 3,713 shares during the period. onsemi makes up approximately 1.7% of Renaissance Investment Group LLC’s portfolio, making the stock its 26th biggest position. Renaissance Investment Group LLC’s holdings in onsemi were worth $5,869,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in shares of onsemi in the 2nd quarter worth about $25,000. Bradley & Co. Private Wealth Management LLC bought a new stake in onsemi in the 3rd quarter valued at about $30,000. Mizuho Securities Co. Ltd. bought a new stake in onsemi in the 3rd quarter valued at about $37,000. CVA Family Office LLC increased its position in onsemi by 48.5% in the 3rd quarter. CVA Family Office LLC now owns 750 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 245 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new stake in onsemi in the 2nd quarter valued at about $49,000. 96.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ON has been the subject of a number of research analyst reports. William Blair lowered onsemi from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 10th. Citigroup boosted their target price on onsemi from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Raymond James lowered onsemi from an “outperform” rating to a “market perform” rating in a report on Thursday, March 2nd. They noted that the move was a valuation call. Needham & Company LLC reissued a “strong-buy” rating and set a $100.00 price objective on shares of onsemi in a report on Friday, March 10th. Finally, Rosenblatt Securities boosted their price objective on onsemi from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $88.84.

Insider Activity at onsemi

In other onsemi news, EVP Simon Keeton sold 4,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $80.00, for a total transaction of $320,000.00. Following the sale, the executive vice president now owns 209,781 shares in the company, valued at $16,782,480. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other onsemi news, EVP Simon Keeton sold 4,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $80.00, for a total transaction of $320,000.00. Following the sale, the executive vice president now owns 209,781 shares in the company, valued at $16,782,480. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 5,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $79.18, for a total value of $395,900.00. Following the sale, the chief executive officer now owns 606,212 shares in the company, valued at approximately $47,999,866.16. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

onsemi Price Performance

onsemi stock opened at $78.28 on Friday. onsemi has a 12 month low of $44.76 and a 12 month high of $87.55. The company has a current ratio of 2.78, a quick ratio of 2.00 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $76.33 and its 200 day simple moving average is $69.99. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 4.95 and a beta of 1.74.

onsemi (NASDAQ:ON – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The semiconductor company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. onsemi had a return on equity of 42.09% and a net margin of 22.85%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. onsemi’s revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts forecast that onsemi will post 4.42 EPS for the current year.

onsemi declared that its board has authorized a stock repurchase program on Monday, February 6th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

onsemi Company 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.