PNC Financial Services Group Inc. Has $7.35 Million Stock Holdings in Onsemi (NASDAQ:ON)

PNC Financial Services Group Inc. boosted its position in shares of Onsemi (NASDAQ:ON) by 9.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,268 shares of the semiconductor company’s stock after purchasing an additional 8,384 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Onsemi were worth $7,353,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ON. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi during the third quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi during the 3rd quarter worth approximately $33,000. GHP Investment Advisors Inc. lifted its stake in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Onsemi during the second quarter worth $43,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

ON has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Roth Mkm increased their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Bank of America raised their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Price Performance

NASDAQ:ON opened at $69.62 on Friday. The company has a market cap of $29.64 billion, a P/E ratio of 17.28, a P/E/G ratio of 7.34 and a beta of 1.65. The firm’s fifty day moving average price is $70.21 and its two-hundred day moving average price is $71.79. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the business earned $1.39 EPS. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. Equities analysts expect that Onsemi will post 4 earnings per share for the current year.

About Onsemi

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.