UMB Bank n.a. Trims Stake in Onsemi (NASDAQ:ON)

UMB Bank n.a. lessened its holdings in Onsemi (NASDAQ:ON) by 33.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,007 shares of the semiconductor company’s stock after selling 2,048 shares during the period. UMB Bank n.a.’s holdings in Onsemi were worth $291,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its stake in Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position 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 valued at $43,000 after purchasing an additional 169 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Onsemi during the 2nd quarter valued at about $43,000. Fidelis Capital Partners LLC bought a new stake in Onsemi in the 1st quarter worth approximately $45,000. Finally, Oakworth Capital Inc. purchased a new stake in Onsemi in the second quarter worth approximately $53,000. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ON shares. Rosenblatt Securities lifted their price target 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 upped their price target 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. TD Cowen lifted their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. 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, the company has a consensus rating of “Hold” and a consensus price target of $85.83.

Onsemi Price Performance

Shares of ON opened at $70.33 on Friday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $95.59. The firm’s 50-day simple moving average is $72.06 and its two-hundred day simple moving average is $71.56. The stock has a market cap of $30.13 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 3.81 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data 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. 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 analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. Analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Onsemi 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 value of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $2,411,385.66. Following the completion of the sale, the insider now 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. Corporate insiders own 0.31% of the company’s stock.

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.