Vanguard Group Inc. Buys 321,682 Shares of Onsemi (NASDAQ:ON)

Vanguard Group Inc. raised its holdings in shares of Onsemi (NASDAQ:ON) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 50,341,366 shares of the semiconductor company’s stock after purchasing an additional 321,682 shares during the period. Vanguard Group Inc. owned about 0.12% of Onsemi worth $4,205,014,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ON. PNC Financial Services Group Inc. increased its position in Onsemi by 4.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 152,391 shares of the semiconductor company’s stock valued at $14,165,000 after purchasing an additional 6,533 shares during the period. DekaBank Deutsche Girozentrale increased its position in Onsemi by 22.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 335,979 shares of the semiconductor company’s stock valued at $31,494,000 after purchasing an additional 61,519 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Onsemi during the 3rd quarter valued at about $2,000,000. Nordea Investment Management AB grew its position in shares of Onsemi by 36.2% in the 3rd quarter. Nordea Investment Management AB now owns 742,909 shares of the semiconductor company’s stock worth $69,945,000 after buying an additional 197,349 shares during the last quarter. Finally, Laidlaw Wealth Management LLC purchased a new position in shares of Onsemi in the 3rd quarter worth approximately $262,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Down 1.7 %

ON stock opened at $70.73 on Tuesday. The firm’s fifty day simple moving average is $70.46 and its 200-day simple moving average is $74.79. The company has a market capitalization of $30.43 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 3.28 and a beta of 1.71. 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 12 month low of $59.34 and a 12 month high of $111.35.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS 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 business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 3.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ON. Jefferies Financial Group began coverage on shares of Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 price objective on the stock. BNP Paribas reaffirmed an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research report on Friday, April 19th. Wells Fargo & Company cut their price objective on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. The Goldman Sachs Group cut their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Onsemi from $90.00 to $85.00 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 given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Insider Buying and Selling

In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the director now owns 48,929 shares of the company’s stock, 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.

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.