Janus Henderson Group PLC Sells 207,729 Shares of Onsemi (NASDAQ:ON)

Janus Henderson Group PLC decreased its position in Onsemi (NASDAQ:ON) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,335,275 shares of the semiconductor company’s stock after selling 207,729 shares during the quarter. Janus Henderson Group PLC owned approximately 2.66% of Onsemi worth $823,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bridgewater Associates LP raised its holdings in shares of Onsemi by 8,367.5% during 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 during the last quarter. American Century Companies Inc. boosted its holdings in shares of Onsemi by 451.3% in the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after acquiring an additional 909,558 shares during the period. Van ECK Associates Corp boosted its stake in shares of Onsemi by 26.4% in 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 buying an additional 729,081 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after purchasing an additional 574,900 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ON. BNP Paribas dropped their target price on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Wells Fargo & Company assumed coverage on Onsemi in a research report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research report on Tuesday, November 19th. Morgan Stanley upped their price target on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, Truist Financial lowered their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Price Performance

Shares of ON opened at $73.95 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The stock has a market cap of $31.49 billion, a PE ratio of 18.35, a P/E/G ratio of 7.63 and a beta of 1.63. The firm has a 50-day simple moving average of $70.29 and a two-hundred day simple moving average of $71.76.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, analysts forecast that Onsemi will post 4 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was 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 approximately $59,515,896. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 4,500 shares of company stock worth $321,765 in the last quarter. 0.31% of the stock is owned by company insiders.

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.