onsemi (NASDAQ:ON) CEO Hassane El-Khoury Sells 5,000 Shares of Stock

onsemi (NASDAQ:ON – Get Rating) CEO Hassane El-Khoury sold 5,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $79.18, for a total transaction of $395,900.00. Following the completion of the sale, the chief executive officer now directly owns 606,212 shares in the company, valued at $47,999,866.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

onsemi Trading Down 2.8 %

NASDAQ ON traded down $2.22 during mid-day trading on Friday, hitting $78.28. The company’s stock had a trading volume of 6,981,769 shares, compared to its average volume of 7,232,572. onsemi has a 52-week low of $44.76 and a 52-week high of $87.55. The stock’s fifty day simple moving average is $76.33 and its two-hundred day simple moving average is $69.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.78 and a quick ratio of 2.00. The firm has a market capitalization of $33.81 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 5.00 and a beta of 1.74.

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

onsemi announced that its Board of Directors has initiated a stock buyback plan on Monday, February 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ON. Citigroup increased their price objective on shares of onsemi from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Bank of America raised their price target on shares of onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. JPMorgan Chase & Co. raised their price target on shares of onsemi from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 7th. Cowen raised their price target on shares of onsemi from $81.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. Finally, Susquehanna raised their price target on shares of onsemi from $80.00 to $100.00 and gave the stock a “positive” rating in a research note on Tuesday, February 7th. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.84.

Institutional Trading of onsemi

Several large investors have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new stake in shares of onsemi during the second quarter worth approximately $49,000. GHP Investment Advisors Inc. boosted its holdings in onsemi by 66.3% in the third quarter. GHP Investment Advisors Inc. now owns 825 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 329 shares during the period. Everence Capital Management Inc. boosted its holdings in onsemi by 104.7% in the third quarter. Everence Capital Management Inc. now owns 12,610 shares of the semiconductor company’s stock worth $786,000 after purchasing an additional 6,450 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in onsemi by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 252,326 shares of the semiconductor company’s stock worth $15,727,000 after purchasing an additional 1,721 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its holdings in onsemi by 73.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 9,166 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 3,874 shares during the period. Institutional investors and hedge funds own 96.84% of the company’s stock.

About onsemi

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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.