Onsemi (NASDAQ:ON) Shares Sold by Earnest Partners LLC

Earnest Partners LLC lessened its holdings in Onsemi (NASDAQ:ON) by 21.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,045,842 shares of the semiconductor company’s stock after selling 550,200 shares during the quarter. Earnest Partners LLC owned 0.48% of Onsemi worth $140,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Integrated Advisors Network LLC boosted its position in shares of Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after buying an additional 164 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. Covestor Ltd grew its position in shares of Onsemi by 24.5% in the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 190 shares during the last quarter. Greenleaf Trust increased its stake in shares of Onsemi by 4.4% during the 1st quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock worth $392,000 after purchasing an additional 226 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of Onsemi by 4.2% during the 1st quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock worth $431,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

ON has been the topic of a number of analyst reports. Susquehanna increased their target price on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Bank of America lifted their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial raised their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Rosenblatt Securities boosted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, KeyCorp decreased their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Three investment 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 presently has a consensus rating of “Hold” and a consensus target price of $85.61.

Onsemi Stock Down 1.2 %

NASDAQ:ON opened at $69.65 on Thursday. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.67. The firm has a market capitalization of $29.84 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.66. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $72.43 and a 200-day moving average of $71.97.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period last year, the business posted $1.33 earnings per share. Analysts predict that Onsemi will post 4.01 EPS for the current year.

Insiders Place Their Bets

In related news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of the 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 sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 insiders.

About Onsemi

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.