Xponance Inc. Sells 426 Shares of Onsemi (NASDAQ:ON)

Xponance Inc. reduced its position in shares of Onsemi (NASDAQ:ON) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,098 shares of the semiconductor company’s stock after selling 426 shares during the period. Xponance Inc.’s holdings in Onsemi were worth $3,914,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Westside Investment Management Inc. raised its holdings in Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Onsemi by 36.7% during the 2nd 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 in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Onsemi in the 2nd quarter valued at approximately $43,000. Fidelis Capital Partners LLC bought a new position in shares of Onsemi in the first quarter valued at $45,000. Finally, Oakworth Capital Inc. acquired a new position in Onsemi during the second quarter worth $53,000. 97.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Simon Keeton sold 30,939 shares of Onsemi 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 transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction 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 transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Onsemi Price Performance

Onsemi stock opened at $69.65 on Thursday. The firm has a market cap 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 debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The stock’s fifty day moving average price is $72.43 and its two-hundred day moving average price is $71.97. Onsemi has a one year low of $59.34 and a one year high of $95.67.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ON shares. Bank of America lifted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Roth Mkm upped their price objective on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. TD Cowen lifted their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Finally, Morgan Stanley cut shares of Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.61.

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.