Onsemi (NASDAQ:ON) Position Reduced by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC trimmed its stake in shares of Onsemi (NASDAQ:ON) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,571 shares of the semiconductor company’s stock after selling 1,227 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Onsemi were worth $588,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after purchasing an additional 35,362 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of Onsemi during the first quarter worth $2,447,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Onsemi by 6.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 480,948 shares of the semiconductor company’s stock worth $38,144,000 after purchasing an additional 27,426 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Onsemi during the first quarter worth $774,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Performance

NASDAQ:ON opened at $69.33 on Friday. Onsemi has a twelve month low of $59.34 and a twelve month high of $98.58. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $73.30 and a 200-day moving average of $72.51. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 3.79 and a beta of 1.66.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $1.33 EPS. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. Analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ON has been the topic of a number of analyst reports. Truist Financial increased their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. KeyCorp dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Bank of America increased their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.61.

Insiders Place Their Bets

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

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.