MML Investors Services LLC Sells 4,314 Shares of Onsemi (NASDAQ:ON)

MML Investors Services LLC reduced its stake in Onsemi (NASDAQ:ON) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,191 shares of the semiconductor company’s stock after selling 4,314 shares during the quarter. MML Investors Services LLC’s holdings in Onsemi were worth $1,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ON. Bridgewater Associates LP increased its stake in shares of 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 in the last quarter. American Century Companies Inc. increased its stake in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after buying an additional 909,558 shares in the last quarter. Van ECK Associates Corp raised its holdings in 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 acquiring an additional 729,081 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Onsemi by 18.7% in 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 acquiring an additional 665,633 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Onsemi by 66.4% in the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Onsemi Trading Up 2.0 %

ON stock opened at $67.74 on Wednesday. The company has a market capitalization of $28.84 billion, a PE ratio of 16.81, a P/E/G ratio of 7.07 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.10. The firm’s 50-day moving average is $69.36 and its 200 day moving average is $71.33.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating 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 the consensus estimate of $1.75 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was down 19.2% on a year-over-year basis. On average, research analysts anticipate that Onsemi will post 4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ON. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. KeyCorp lowered 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. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. TD Cowen dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Truist Financial decreased their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

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.