Onsemi (NASDAQ:ON) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in Onsemi (NASDAQ:ON) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,842 shares of the semiconductor company’s stock after selling 2,579 shares during the quarter. Kentucky Retirement Systems’ holdings in Onsemi were worth $2,167,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ON. Empirical Finance LLC increased its holdings in shares of Onsemi by 6.0% in the third quarter. Empirical Finance LLC now owns 8,706 shares of the semiconductor company’s stock valued at $632,000 after purchasing an additional 491 shares during the period. CIBC Asset Management Inc increased its holdings in Onsemi by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 132,903 shares of the semiconductor company’s stock worth $9,650,000 after buying an additional 6,789 shares during the period. Intellectus Partners LLC raised its position in Onsemi by 11.0% during the 3rd quarter. Intellectus Partners LLC now owns 12,885 shares of the semiconductor company’s stock worth $936,000 after buying an additional 1,277 shares during the last quarter. Sycomore Asset Management lifted its stake in Onsemi by 43.7% during the 3rd quarter. Sycomore Asset Management now owns 44,450 shares of the semiconductor company’s stock valued at $3,259,000 after acquiring an additional 13,512 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Onsemi by 6.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,306 shares of the semiconductor company’s stock valued at $894,000 after acquiring an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Down 3.4 %

Shares of ON opened at $64.76 on Monday. The company’s 50-day simple moving average is $70.43 and its 200-day simple moving average is $71.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The stock has a market capitalization of $27.57 billion, a PE ratio of 16.07, a P/E/G ratio of 6.94 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the company earned $1.39 EPS. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. Analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated 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 trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ON. JPMorgan Chase & Co. boosted their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Robert W. Baird raised their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Truist Financial decreased their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th. Finally, Loop Capital assumed coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Two research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

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.