Onsemi (NASDAQ:ON) Shares Sold by ING Groep NV

ING Groep NV lowered its holdings in shares of Onsemi (NASDAQ:ON) by 71.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,194 shares of the semiconductor company’s stock after selling 154,715 shares during the period. ING Groep NV’s holdings in Onsemi were worth $4,516,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ON. Assenagon Asset Management S.A. raised its position in Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after acquiring an additional 88,496 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in Onsemi during the first quarter valued at approximately $808,000. Comerica Bank boosted its holdings in Onsemi by 21.1% during the first quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after buying an additional 17,198 shares in the last quarter. Deltec Asset Management LLC acquired a new position in Onsemi in the second quarter worth approximately $1,212,000. Finally, Brighton Jones LLC increased its holdings in shares of Onsemi by 116.6% in the third quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after buying an additional 13,923 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Down 3.4 %

Shares of NASDAQ ON opened at $64.76 on Friday. The stock has a market cap of $27.57 billion, a PE ratio of 16.07, a PEG ratio of 7.34 and a beta of 1.65. 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 business has a fifty day moving average of $70.43 and a two-hundred day moving average of $71.86. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $1.39 EPS. Onsemi’s revenue was down 19.2% compared to the same quarter last year. As a group, equities research analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ON. Morgan Stanley lifted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Roth Mkm upped their price target on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Truist Financial lowered their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Bank of America increased their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.