Federated Hermes Inc. Has $9.90 Million Holdings in Onsemi (NASDAQ:ON)

Federated Hermes Inc. lifted its position in shares of Onsemi (NASDAQ:ON) by 408.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,383 shares of the semiconductor company’s stock after buying an additional 115,972 shares during the quarter. Federated Hermes Inc.’s holdings in Onsemi were worth $9,897,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Westside Investment Management Inc. grew its holdings in Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Onsemi in the first quarter worth $45,000. Massmutual Trust Co. FSB ADV grew its holdings in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC acquired a new stake in Onsemi in the second quarter worth $43,000. Finally, Oakworth Capital Inc. acquired a new stake in Onsemi in the second quarter worth $53,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Rosenblatt Securities raised their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com lowered shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Finally, TD Cowen raised their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.61.

Insider Transactions at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON stock opened at $71.42 on Wednesday. The firm has a market cap of $30.59 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 3.72 and a beta of 1.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.69. The firm’s 50-day simple moving average is $73.17 and its two-hundred day simple moving average is $72.35.

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

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.