15,155 onsemi $ON Shares Purchased by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management increased its onsemi stake by 20.8% in the third quarter, purchasing 15,155 shares and bringing its holdings to 88,134 shares valued at approximately $6.8 million.
• Institutional ownership remains high at 97.7%, while analysts hold a “Moderate Buy” consensus rating with an average price target of $92.68. However, several firms recently lowered their targets, reflecting more cautious expectations.
• onsemi shares opened at $72.25, well below their 52-week high of $134.92. The company recently beat quarterly earnings and revenue estimates, and its silicon-carbide technology was selected for Sungrow’s utility-scale energy-storage platform.

Iridian Asset Management LLC CT boosted its stake in onsemi (NASDAQ:ON - Free Report) by 20.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,134 shares of the semiconductor company's stock after buying an additional 15,155 shares during the quarter. onsemi makes up 2.4% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 12th largest holding. Iridian Asset Management LLC CT's holdings in onsemi were worth $6,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ON. Kestra Private Wealth Services LLC grew its stake in onsemi by 2.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 4,554 shares of the semiconductor company's stock valued at $282,000 after purchasing an additional 125 shares during the period. Apollon Wealth Management LLC increased its position in shares of onsemi by 1.8% during the 1st quarter. Apollon Wealth Management LLC now owns 7,130 shares of the semiconductor company's stock valued at $441,000 after purchasing an additional 127 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of onsemi by 2.7% during the 1st quarter. V Square Quantitative Management LLC now owns 5,946 shares of the semiconductor company's stock worth $368,000 after purchasing an additional 157 shares during the period. Compound Planning Inc. raised its stake in shares of onsemi by 3.9% during the 1st quarter. Compound Planning Inc. now owns 4,733 shares of the semiconductor company's stock worth $293,000 after purchasing an additional 179 shares during the period. Finally, Root Financial Partners LLC raised its stake in shares of onsemi by 39.4% during the 1st quarter. Root Financial Partners LLC now owns 701 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 198 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ON has been the topic of a number of research reports. Susquehanna lowered their price target on shares of onsemi from $150.00 to $120.00 and set a "positive" rating on the stock in a report on Wednesday. Truist Financial reduced their price objective on onsemi from $91.00 to $75.00 and set a "hold" rating for the company in a report on Friday, September 18th. Stifel Nicolaus raised their target price on onsemi from $75.00 to $80.00 and gave the stock a "hold" rating in a research report on Monday, October 5th. Needham & Company LLC restated a "buy" rating and issued a $116.00 target price on shares of onsemi in a research note on Friday, October 2nd. Finally, TD Cowen dropped their price target on onsemi from $95.00 to $75.00 and set a "hold" rating on the stock in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.68.

Trending Headlines about onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s silicon-carbide technology was selected by Sungrow for its PowerTitan 3.0 utility-scale energy-storage platform, supporting power-conversion systems of up to 450 kW. The win strengthens onsemi’s position in the growing battery-storage and power-efficiency markets. Can Analyst Optimism Change The Bull Case For ON Semiconductor
• Positive Sentiment: B. Riley maintained a “Buy” rating while lowering its price target from $127 to $105. Although the reduction signals more conservative expectations, the revised target still implies substantial upside from the stock’s referenced price. B. Riley Stock Recommendations
• Neutral Sentiment: Recent product announcements featuring onsemi image sensors, including the AR0521 and AR0234, indicate ongoing use of the company’s components in surveillance and pedestrian-safety cameras, but the releases do not provide material details on revenue or order size. Vadzo Imaging Positions Falcon-521CRS
• Negative Sentiment: Analyst target reductions—including B. Riley’s cut and a separate TD Cowen reduction—are weighing on sentiment by implying that the recovery outlook and near-term semiconductor demand may be weaker than previously expected. onsemi Stock Gets Price Target Reduction from TD Cowen

onsemi Stock Performance

NASDAQ ON opened at $72.25 on Friday. The company's 50 day simple moving average is $75.02 and its two-hundred day simple moving average is $90.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.46 and a quick ratio of 2.49. onsemi has a 1 year low of $44.56 and a 1 year high of $134.92. The stock has a market capitalization of $28.13 billion, a PE ratio of 46.31, a P/E/G ratio of 0.60 and a beta of 2.05.

onsemi (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. onsemi had a return on equity of 14.06% and a net margin of 10.17%. The company's quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. Analysts predict that onsemi will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sudhir Gopalswamy sold 15,578 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares in the company, valued at approximately $12,654,160. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is currently owned by corporate insiders.

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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