Intech Investment Management LLC Sells 124,497 Shares of Onsemi (NASDAQ:ON)

Intech Investment Management LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 48.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 132,422 shares of the semiconductor company’s stock after selling 124,497 shares during the quarter. Intech Investment Management LLC’s holdings in Onsemi were worth $9,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in Onsemi by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after buying an additional 35,362 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of Onsemi during the 1st quarter worth $2,447,000. Assenagon Asset Management S.A. grew its holdings in shares of Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Onsemi during the 1st quarter worth $774,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Onsemi during the 1st quarter worth $808,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ON. Benchmark increased their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. KeyCorp reduced their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Rosenblatt Securities raised their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Roth Mkm raised 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.61.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. 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 Onsemi stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. The sale was disclosed in a filing with the SEC, which is available at 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 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. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Onsemi Stock Performance

Shares of ON stock opened at $69.57 on Friday. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.67. 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 firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 3.77 and a beta of 1.66. The business’s 50-day moving average price is $72.85 and its 200-day moving average price is $72.21.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue was down 17.2% compared to the same quarter last year. Equities research analysts forecast that Onsemi will post 4.01 EPS 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.