Royal London Asset Management Ltd. Raises Holdings in Onsemi (NASDAQ:ON)

Royal London Asset Management Ltd. lifted its position in Onsemi (NASDAQ:ON) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 156,378 shares of the semiconductor company’s stock after buying an additional 1,238 shares during the period. Royal London Asset Management Ltd.’s holdings in Onsemi were worth $13,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ON. TT International Asset Management LTD increased its position in Onsemi by 38.3% during the 4th quarter. TT International Asset Management LTD now owns 17,781 shares of the semiconductor company’s stock valued at $1,485,000 after purchasing an additional 4,927 shares during the period. EP Wealth Advisors LLC raised its stake in Onsemi by 41.7% in the fourth quarter. EP Wealth Advisors LLC now owns 5,625 shares of the semiconductor company’s stock worth $470,000 after buying an additional 1,654 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Onsemi by 52.2% during the fourth quarter. Centaurus Financial Inc. now owns 16,505 shares of the semiconductor company’s stock worth $1,379,000 after buying an additional 5,663 shares during the period. Integrated Advisors Network LLC boosted its position in Onsemi by 1.7% during the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after acquiring an additional 164 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Onsemi by 35.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,612 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 690 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

ON traded down $3.07 during trading on Friday, reaching $71.97. The company’s stock had a trading volume of 4,527,255 shares, compared to its average volume of 5,039,764. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 3.28 and a beta of 1.71. The firm has a fifty day simple moving average of $70.42 and a two-hundred day simple moving average of $74.77. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, analysts anticipate that Onsemi will post 3.83 EPS for the current year.

Insider Activity at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Rosenblatt Securities cut their price target on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Morgan Stanley reduced their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. BNP Paribas reissued an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research report on Friday, April 19th. Finally, Benchmark reduced their target price on Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $90.28.

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.