Intech Investment Management LLC Lowers Stake in Onsemi (NASDAQ:ON)

Intech Investment Management LLC lessened its holdings in Onsemi (NASDAQ:ON) by 86.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,177 shares of the semiconductor company’s stock after selling 114,245 shares during the period. Intech Investment Management LLC’s holdings in Onsemi were worth $1,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Bellwether Advisors LLC raised its position in Onsemi by 16.7% during the third quarter. Bellwether Advisors LLC now owns 160,673 shares of the semiconductor company’s stock worth $11,666,000 after acquiring an additional 22,989 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Onsemi during the third quarter worth about $1,789,000. Second Half Financial Partners LLC purchased a new stake in shares of Onsemi during the third quarter worth about $227,000. PNC Financial Services Group Inc. raised its position in shares of Onsemi by 9.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 101,268 shares of the semiconductor company’s stock worth $7,353,000 after purchasing an additional 8,384 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Onsemi in the 3rd quarter valued at about $3,085,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was 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 of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,500 shares of company stock worth $321,765 over the last three months. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird raised their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Wells Fargo & Company began coverage on shares of Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Stock Performance

Shares of ON stock opened at $70.82 on Wednesday. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm’s 50 day moving average price is $70.25 and its 200-day moving average price is $71.81. The firm has a market cap of $30.16 billion, a P/E ratio of 17.57, a P/E/G ratio of 7.47 and a beta of 1.65.

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

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.