Boston Partners Purchases Shares of 35,082 Onsemi (NASDAQ:ON)

Boston Partners acquired a new stake in Onsemi (NASDAQ:ON) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,082 shares of the semiconductor company’s stock, valued at approximately $2,580,000.

A number of other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in shares of Onsemi by 7,749.6% during the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after acquiring an additional 82,301 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Onsemi in the fourth quarter valued at approximately $250,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Onsemi by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 996,431 shares of the semiconductor company’s stock valued at $83,232,000 after buying an additional 10,853 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Onsemi by 83.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 571,117 shares of the semiconductor company’s stock worth $47,706,000 after buying an additional 259,906 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Onsemi by 46.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,853 shares of the semiconductor company’s stock valued at $2,327,000 after buying an additional 8,821 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In other news, 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 value of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the 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 transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 69,850 shares of company stock worth $5,236,119 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Stock Performance

NASDAQ:ON traded down $3.95 during trading hours on Friday, reaching $67.95. 11,552,915 shares of the company’s stock were exchanged, compared to its average volume of 8,036,488. The firm has a market capitalization of $29.23 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 3.12 and a beta of 1.69. Onsemi has a 1-year low of $59.34 and a 1-year high of $104.87. The company has a 50-day moving average of $72.60 and a 200 day moving average of $73.17. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. Onsemi’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. Research analysts anticipate that Onsemi will post 4.01 EPS for the current year.

Analyst Ratings Changes

ON has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. The Goldman Sachs Group reduced their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $70.00 to $65.00 in a report on Thursday, July 11th. Finally, Benchmark lifted their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.61.

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.