Onsemi (NASDAQ:ON) Shares Sold by STF Management LP

STF Management LP cut its position in Onsemi (NASDAQ:ON) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,227 shares of the semiconductor company’s stock after selling 577 shares during the period. STF Management LP’s holdings in Onsemi were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after acquiring an additional 665,633 shares during the last quarter. Van ECK Associates Corp grew its position in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares during the period. Earnest Partners LLC boosted its stake in shares of Onsemi by 6.7% in the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock valued at $190,939,000 after purchasing an additional 161,987 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after buying an additional 31,889 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of ON opened at $68.32 on Friday. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The stock has a market capitalization of $29.09 billion, a P/E ratio of 16.95, a P/E/G ratio of 7.15 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company’s fifty day moving average is $70.25 and its two-hundred day moving average is $71.79.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, sell-side analysts predict that Onsemi will post 4 earnings per share for the current year.

Analyst Ratings Changes

ON has been the subject of several analyst reports. Wells Fargo & Company assumed coverage on Onsemi in a research note on Friday. They set an “overweight” rating and a $85.00 target price for the company. Bank of America boosted their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Mizuho set a $85.00 price target on shares of Onsemi in a report on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a report on Tuesday. Two research 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. According to data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $85.87.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Company 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.