Advisors Asset Management Inc. Lowers Position in Onsemi (NASDAQ:ON)

Advisors Asset Management Inc. decreased its holdings in shares of Onsemi (NASDAQ:ON) by 22.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,221 shares of the semiconductor company’s stock after selling 6,388 shares during the quarter. Advisors Asset Management Inc.’s holdings in Onsemi were worth $1,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Axxcess Wealth Management LLC purchased a new position in Onsemi in the first quarter worth $808,000. EP Wealth Advisors LLC lifted its stake in Onsemi by 4.2% during the first quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock worth $431,000 after purchasing an additional 239 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Onsemi by 2,381.1% in the 1st quarter. Vident Advisory LLC now owns 214,097 shares of the semiconductor company’s stock worth $15,747,000 after purchasing an additional 205,468 shares in the last quarter. Natixis Investment Managers International increased its position in shares of Onsemi by 2,566.3% during the 1st quarter. Natixis Investment Managers International now owns 425,973 shares of the semiconductor company’s stock valued at $31,330,000 after purchasing an additional 409,997 shares during the last quarter. Finally, Natixis raised its holdings in shares of Onsemi by 2,086.0% during the 1st quarter. Natixis now owns 556,873 shares of the semiconductor company’s stock valued at $40,958,000 after buying an additional 531,398 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ON shares. Benchmark reduced their target price on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Truist Financial decreased their target price on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group cut their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, Stifel Nicolaus lowered their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Onsemi Trading Up 3.9 %

Shares of NASDAQ:ON opened at $70.17 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company has a market cap of $30.19 billion, a P/E ratio of 14.32, a PEG ratio of 3.05 and a beta of 1.69. The stock’s fifty day moving average price is $72.55 and its 200-day moving average price is $73.18.

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, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Sell-side analysts expect that Onsemi will post 4.02 earnings per share for the current year.

Insider Transactions at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated 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 sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction 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 directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.