Penserra Capital Management LLC Cuts Position in Onsemi (NASDAQ:ON)

Penserra Capital Management LLC cut its stake in shares of Onsemi (NASDAQ:ON) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,881 shares of the semiconductor company’s stock after selling 622 shares during the quarter. Penserra Capital Management LLC’s holdings in Onsemi were worth $4,129,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ON. Davis Investment Partners LLC grew its holdings in Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Greenleaf Trust increased its holdings in Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after acquiring an additional 173 shares in the last quarter. Meridian Financial Partners LLC raised its position in Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 192 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Onsemi by 4.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Onsemi Stock Up 1.7 %

Shares of NASDAQ:ON opened at $69.62 on Monday. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. The company has a 50 day moving average of $70.21 and a two-hundred day moving average of $71.80. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business earned $1.39 EPS. The business’s revenue was down 19.2% on a year-over-year basis. As a group, analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ON. Bank of America upped their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Truist Financial decreased their price objective on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price target on shares of Onsemi in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company assumed coverage on shares of Onsemi in a research report on Friday. They issued an “overweight” rating and a $85.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $85.87.

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.