EP Wealth Advisors LLC Reduces Stock Holdings in Onsemi (NASDAQ:ON)

EP Wealth Advisors LLC cut its holdings in Onsemi (NASDAQ:ON) by 39.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,549 shares of the semiconductor company’s stock after selling 2,315 shares during the quarter. EP Wealth Advisors LLC’s holdings in Onsemi were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ON. Integrated Advisors Network LLC increased its holdings in shares of Onsemi by 1.7% in the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after purchasing an additional 164 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Covestor Ltd raised its holdings in shares of Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 190 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Onsemi by 4.4% during the first quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock worth $392,000 after purchasing an additional 226 shares during the last quarter. Finally, MJP Associates Inc. ADV lifted its position in Onsemi by 3.8% during the second quarter. MJP Associates Inc. ADV now owns 6,457 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Susquehanna lifted their price objective on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. KeyCorp reduced their price target on Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Benchmark upped 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. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $77.00 in a report on Monday, July 15th. Finally, Truist Financial increased their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.61.

Insider Buying and Selling

In related 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 completion of the transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction dated 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 of the company’s stock, valued at $18,011,310.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Onsemi Trading Up 1.7 %

Shares of NASDAQ ON opened at $71.54 on Friday. 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 market capitalization of $30.64 billion, a PE ratio of 14.60, a PEG ratio of 3.99 and a beta of 1.66. Onsemi has a twelve month low of $59.34 and a twelve month high of $95.59. The stock has a fifty day simple moving average of $72.40 and a 200-day simple moving average of $71.71.

Onsemi (NASDAQ:ON) last released 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 company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. Onsemi’s revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. On average, equities analysts forecast that Onsemi will post 4.01 earnings per share for the current year.

Onsemi 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.