Biechele Royce Advisors Sells 2,185 Shares of Onsemi (NASDAQ:ON)

Biechele Royce Advisors trimmed its holdings in Onsemi (NASDAQ:ON) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,732 shares of the semiconductor company’s stock after selling 2,185 shares during the quarter. Onsemi makes up approximately 3.6% of Biechele Royce Advisors’ holdings, making the stock its 12th biggest position. Biechele Royce Advisors’ holdings in Onsemi were worth $10,945,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mediolanum International Funds Ltd purchased a new stake in shares of Onsemi in the first quarter worth about $2,447,000. Assenagon Asset Management S.A. grew its holdings in shares of Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after purchasing an additional 88,496 shares in the last quarter. Norden Group LLC bought a new stake in Onsemi in the first quarter worth $774,000. Axxcess Wealth Management LLC purchased a new stake in Onsemi during the first quarter valued at $808,000. Finally, Meeder Asset Management Inc. lifted its position in Onsemi by 42.9% during the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock valued at $1,914,000 after purchasing an additional 7,820 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Up 0.7 %

Shares of NASDAQ:ON traded up $0.50 during trading hours on Friday, hitting $70.99. The company’s stock had a trading volume of 5,551,376 shares, compared to its average volume of 6,796,254. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 1.95. The firm’s fifty day moving average price is $71.27 and its 200 day moving average price is $71.52. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a market capitalization of $30.23 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 7.89 and a beta of 1.65.

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

Insider Activity at Onsemi

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 transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. 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 hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Mizuho set a $85.00 target price on Onsemi in a research report on Friday, October 18th. BNP Paribas lowered their price target on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, Morgan Stanley boosted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $85.91.

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.