Apollon Wealth Management LLC Purchases 4,569 Shares of Onsemi (NASDAQ:ON)

Apollon Wealth Management LLC boosted its holdings in shares of Onsemi (NASDAQ:ON) by 75.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,652 shares of the semiconductor company’s stock after buying an additional 4,569 shares during the period. Apollon Wealth Management LLC’s holdings in Onsemi were worth $773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ON. Ashton Thomas Securities LLC bought a new stake in Onsemi during the third quarter worth about $33,000. Jensen Investment Management Inc. raised its position in Onsemi by 20.1% during the 3rd quarter. Jensen Investment Management Inc. now owns 40,710 shares of the semiconductor company’s stock valued at $2,956,000 after purchasing an additional 6,820 shares during the last quarter. Sanctuary Wealth Management L.L.C. lifted its stake in Onsemi by 5.0% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 23,166 shares of the semiconductor company’s stock worth $1,682,000 after acquiring an additional 1,100 shares during the period. Atria Investments Inc lifted its position in shares of Onsemi by 9.0% in the 3rd quarter. Atria Investments Inc now owns 15,316 shares of the semiconductor company’s stock worth $1,112,000 after purchasing an additional 1,268 shares during the period. Finally, Carmel Capital Partners LLC boosted its position in Onsemi by 8.3% during the 3rd quarter. Carmel Capital Partners LLC now owns 23,689 shares of the semiconductor company’s stock valued at $1,720,000 after acquiring an additional 1,814 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Down 3.4 %

ON stock opened at $64.76 on Friday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm has a market cap of $27.57 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 7.34 and a beta of 1.65. The firm has a fifty day moving average price of $70.43 and a 200 day moving average price of $71.86. 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 released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. Sell-side analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ON. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. KeyCorp dropped their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. TD Cowen lowered their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Bank of America boosted their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi 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.