Onsemi (NASDAQ:ON) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. decreased its holdings in shares of Onsemi (NASDAQ:ON) by 3.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,430 shares of the semiconductor company’s stock after selling 3,780 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Onsemi were worth $6,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ON. Capital World Investors acquired a new position in Onsemi during the fourth quarter worth approximately $697,276,000. Swedbank AB acquired a new stake in shares of Onsemi during the 1st quarter worth $90,274,000. American Century Companies Inc. increased its holdings in shares of Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after buying an additional 909,558 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Onsemi by 35.6% in the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock worth $249,717,000 after buying an additional 785,305 shares during the period. Finally, M&G Plc acquired a new position in Onsemi in the first quarter valued at $57,900,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $59,515,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Onsemi Stock Down 5.2 %

Shares of Onsemi stock opened at $69.57 on Monday. The business has a 50-day moving average price of $72.85 and a 200 day moving average price of $72.14. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $95.67. The firm has a market cap of $29.80 billion, a P/E ratio of 14.20, a P/E/G ratio of 3.77 and a beta of 1.66. 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 (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating 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 return on equity of 25.48% and a net margin of 24.84%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. On average, sell-side analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ON. Truist Financial raised their price objective on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com cut shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. TD Cowen increased their price objective on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price 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. Finally, KeyCorp decreased their price target 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Onsemi has a consensus rating of “Hold” and an average price target of $85.61.

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.