Thurston Springer Miller Herd & Titak Inc. Grows Position in Onsemi (NASDAQ:ON)

Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Onsemi (NASDAQ:ON) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,341 shares of the semiconductor company’s stock after acquiring an additional 722 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Onsemi were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bridgewater Associates LP grew its holdings in shares of Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Van ECK Associates Corp boosted its position in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after purchasing an additional 574,900 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after purchasing an additional 380,471 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Rosenblatt Securities restated a “neutral” rating and set 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 $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, TD Cowen dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.35.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Onsemi Price Performance

NASDAQ:ON opened at $53.51 on Friday. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 5.29 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a fifty day moving average of $65.58 and a 200 day moving average of $69.89. Onsemi has a 52-week low of $53.10 and a 52-week high of $85.16.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, research analysts expect that Onsemi will post 3.99 EPS for the current fiscal 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.