Epoch Investment Partners Inc. Trims Stake in Onsemi (NASDAQ:ON)

Epoch Investment Partners Inc. lessened its position in shares of Onsemi (NASDAQ:ON) by 65.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 571,981 shares of the semiconductor company’s stock after selling 1,063,200 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Onsemi were worth $39,209,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in Onsemi by 56.2% in the 4th quarter. Brown Advisory Inc. now owns 6,170 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 2,220 shares during the last quarter. US Bancorp DE increased its position in Onsemi by 4.0% in the 4th quarter. US Bancorp DE now owns 56,869 shares of the semiconductor company’s stock valued at $4,750,000 after acquiring an additional 2,166 shares during the period. SageView Advisory Group LLC purchased a new stake in Onsemi during the 4th quarter valued at approximately $239,000. Johnson Financial Group Inc. purchased a new position in shares of Onsemi in the 4th quarter valued at approximately $303,000. Finally, United Services Automobile Association grew its stake in shares of Onsemi by 10.2% in the 4th quarter. United Services Automobile Association now owns 12,777 shares of the semiconductor company’s stock valued at $1,067,000 after purchasing an additional 1,179 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction 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 completion of the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ON. Truist Financial increased their price target on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Rosenblatt Securities raised their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Benchmark boosted their price target 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. KeyCorp reduced their price objective on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.61.

Onsemi Stock Performance

NASDAQ ON opened at $69.57 on Monday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $95.67. The business has a fifty day moving average of $72.85 and a 200-day moving average of $72.14. The stock has a market cap of $29.80 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.66.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm 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%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. As a group, analysts predict that Onsemi will post 4.01 earnings per share for the current fiscal 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.