Wedge Capital Management L L P NC Lowers Holdings in Onsemi (NASDAQ:ON)

Wedge Capital Management L L P NC decreased its holdings in Onsemi (NASDAQ:ON) by 12.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,921 shares of the semiconductor company’s stock after selling 2,943 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Onsemi were worth $1,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Davis Investment Partners LLC boosted its stake in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 36.7% in the second 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 period. Covestor Ltd lifted its stake in Onsemi by 24.5% in the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Onsemi by 4.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 206 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in Onsemi by 4.4% in the first quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

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 directly owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,939 shares of company stock valued at $2,626,651. 0.31% of the stock is owned by company insiders.

Onsemi Stock Performance

Shares of ON opened at $69.03 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock has a market capitalization of $29.70 billion, a P/E ratio of 14.09, a P/E/G ratio of 3.81 and a beta of 1.65. The company’s fifty day moving average is $72.20 and its two-hundred day moving average is $71.48. Onsemi has a 1 year low of $59.34 and a 1 year high of $92.86.

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 the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. 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, sell-side analysts predict that Onsemi will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Truist Financial lifted their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded shares of Onsemi from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. Finally, KeyCorp cut their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Three investment 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’s stock. According to MarketBeat, Onsemi has a consensus rating of “Hold” and a consensus target price of $85.83.

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.