Mutual of America Capital Management LLC Trims Holdings in Onsemi (NASDAQ:ON)

Mutual of America Capital Management LLC reduced its stake in Onsemi (NASDAQ:ON) by 2.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,742 shares of the semiconductor company’s stock after selling 1,512 shares during the period. Mutual of America Capital Management LLC’s holdings in Onsemi were worth $3,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ON. Covestor Ltd grew its stake in shares of Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 190 shares during the period. EP Wealth Advisors LLC raised its position in Onsemi by 4.2% in the first quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock valued at $431,000 after purchasing an additional 239 shares during the period. Axxcess Wealth Management LLC purchased a new stake in Onsemi in the first quarter valued at $808,000. Truvestments Capital LLC grew its holdings in shares of Onsemi by 14.6% during the 1st quarter. Truvestments Capital LLC now owns 5,652 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 718 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Onsemi by 106.1% during the 1st quarter. 1832 Asset Management L.P. now owns 865,550 shares of the semiconductor company’s stock worth $63,661,000 after purchasing an additional 445,550 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Up 1.5 %

ON opened at $68.32 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company has a market cap of $29.09 billion, a P/E ratio of 16.95, a PEG ratio of 7.15 and a beta of 1.65. The business’s 50-day simple moving average is $70.25 and its 200-day simple moving average is $71.79.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 4 EPS for the current fiscal year.

Analyst Ratings Changes

ON has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Loop Capital assumed coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. Finally, Robert W. Baird increased their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.30.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by corporate insiders.

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.