Glenmede Trust Co. NA Raises Position in Onsemi (NASDAQ:ON)

Glenmede Trust Co. NA lifted its stake in shares of Onsemi (NASDAQ:ON) by 4.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 481,122 shares of the semiconductor company’s stock after acquiring an additional 22,429 shares during the period. Glenmede Trust Co. NA owned approximately 0.11% of Onsemi worth $34,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Swedbank AB purchased a new position in shares of Onsemi during the first quarter worth approximately $90,274,000. Bridgewater Associates LP lifted its stake in Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares during the last quarter. American Century Companies Inc. boosted its position in Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after buying an additional 909,558 shares during the period. Van ECK Associates Corp grew its stake in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ON. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Robert W. Baird increased their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research note on Tuesday, November 19th. Finally, TD Cowen decreased their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $85.87.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 4,500 shares of company stock worth $321,765. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

ON opened at $70.35 on Thursday. The company has a 50 day simple moving average of $70.24 and a two-hundred day simple moving average of $71.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market cap of $29.95 billion, a P/E ratio of 17.46, a PEG ratio of 7.76 and a beta of 1.65. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. Onsemi’s quarterly revenue was down 19.2% compared to the same quarter last year. Equities analysts forecast that Onsemi will post 4 earnings per share for the current fiscal 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.