Onsemi (NASDAQ:ON) Stock Holdings Lowered by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC reduced its position in Onsemi (NASDAQ:ON) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,626 shares of the semiconductor company’s stock after selling 6,069 shares during the period. Onsemi comprises approximately 2.5% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 19th largest position. Villere ST Denis J & Co. LLC’s holdings in Onsemi were worth $30,832,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after acquiring an additional 88,496 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Onsemi in the first quarter worth approximately $808,000. Meeder Asset Management Inc. increased its position in shares of Onsemi by 42.9% in the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after acquiring an additional 7,820 shares in the last quarter. Entropy Technologies LP purchased a new position in Onsemi during the first quarter valued at approximately $555,000. Finally, Comerica Bank grew its position in Onsemi by 21.1% during the first quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock valued at $7,265,000 after purchasing an additional 17,198 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird boosted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial lowered their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Roth Mkm boosted their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Susquehanna boosted their target price on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Price Performance

Shares of Onsemi stock opened at $70.41 on Friday. The stock has a market capitalization of $29.98 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 7.75 and a beta of 1.65. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The firm has a fifty day simple moving average of $70.76 and a 200-day simple moving average of $71.81. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. On average, sell-side analysts expect that Onsemi will post 4 earnings per share 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.