Opal Wealth Advisors LLC Makes New $41,000 Investment in Onsemi (NASDAQ:ON)

Opal Wealth Advisors LLC bought a new position in shares of Onsemi (NASDAQ:ON) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,008 shares of the semiconductor company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Azzad Asset Management Inc. ADV purchased a new position in shares of Onsemi during the first quarter worth $639,000. GraniteShares Advisors LLC boosted its position in shares of Onsemi by 16.2% during the first quarter. GraniteShares Advisors LLC now owns 9,511 shares of the semiconductor company’s stock worth $387,000 after buying an additional 1,328 shares during the period. Net Worth Advisory Group boosted its position in shares of Onsemi by 71.7% during the first quarter. Net Worth Advisory Group now owns 5,770 shares of the semiconductor company’s stock worth $235,000 after buying an additional 2,409 shares during the period. CX Institutional purchased a new position in Onsemi in the first quarter valued at $128,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Onsemi by 226.0% in the first quarter. Assenagon Asset Management S.A. now owns 888,364 shares of the semiconductor company’s stock valued at $36,148,000 after purchasing an additional 615,825 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Mizuho decreased their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. KeyCorp decreased their target price on Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Roth Capital set a $60.00 target price on Onsemi in a report on Friday, March 7th. Finally, Robert W. Baird decreased their target price on Onsemi from $42.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $54.72.

Onsemi Stock Performance

Shares of ON stock opened at $53.88 on Tuesday. The stock has a market capitalization of $22.52 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The stock’s 50-day moving average price is $42.29 and its 200 day moving average price is $49.51. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. As a group, equities research analysts forecast that Onsemi will post 2.6 EPS for the current year.

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.