Onsemi (NASDAQ:ON) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in shares of Onsemi (NASDAQ:ON) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,937 shares of the semiconductor company’s stock after selling 613 shares during the period. Hartford Investment Management Co.’s holdings in Onsemi were worth $1,956,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ON. Westside Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 550 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Onsemi during the 1st quarter valued at approximately $45,000. Massmutual Trust Co. FSB ADV boosted its stake 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 worth $43,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Onsemi in the 2nd quarter worth approximately $43,000. Finally, Oakworth Capital Inc. purchased a new position in Onsemi in the 2nd quarter valued at approximately $53,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ON. Susquehanna boosted their target price on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $77.00 in a report on Monday, July 15th. Rosenblatt Securities upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. TD Cowen raised their price objective 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. Finally, Benchmark upped their target price on Onsemi from $80.00 to $90.00 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 assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.74.

Onsemi Stock Performance

Onsemi stock opened at $70.08 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 3.57 and a beta of 1.65. The stock’s 50-day moving average is $71.72 and its 200-day moving average is $71.37.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company posted $1.33 earnings per share. The firm’s revenue was down 17.2% compared to the same quarter last year. Equities analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. 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 available at this hyperlink. In related news, insider Simon Keeton sold 30,939 shares of the 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 completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents 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 this link. Also, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,939 shares of company stock worth $2,626,651 in the last 90 days. 0.31% of the stock is owned by company insiders.

About Onsemi

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.