DekaBank Deutsche Girozentrale Sells 3,215 Shares of Onsemi (NASDAQ:ON)

DekaBank Deutsche Girozentrale decreased its position in shares of Onsemi (NASDAQ:ON) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,622 shares of the semiconductor company’s stock after selling 3,215 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Onsemi were worth $12,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ON. Dimensional Fund Advisors LP lifted its position in shares of Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Capital International Investors boosted its position in Onsemi by 1.0% in the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock valued at $302,070,000 after buying an additional 42,117 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after buying an additional 380,471 shares during the period. Van ECK Associates Corp increased its position in shares of Onsemi by 7.9% during the second quarter. Van ECK Associates Corp now owns 2,765,975 shares of the semiconductor company’s stock worth $189,608,000 after acquiring an additional 201,852 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of Onsemi by 6.7% during the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock valued at $190,939,000 after acquiring an additional 161,987 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Up 3.4 %

Shares of ON stock opened at $74.70 on Wednesday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm has a market capitalization of $32.00 billion, a PE ratio of 18.54, a P/E/G ratio of 3.82 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. The stock’s 50-day simple moving average is $71.49 and its 200-day simple moving average is $71.48.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company earned $1.39 EPS. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. Equities analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on ON. Needham & Company LLC reduced their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial cut their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped 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. Morgan Stanley boosted their price target on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Roth Mkm increased their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.57.

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.