Onsemi (NASDAQ:ON) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in Onsemi (NASDAQ:ON) by 68.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,342 shares of the semiconductor company’s stock after selling 90,439 shares during the period. Empowered Funds LLC’s holdings in Onsemi were worth $3,002,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Onsemi in the third quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Onsemi in the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. lifted its position in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Onsemi in the 2nd quarter worth about $43,000. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ON shares. Robert W. Baird boosted their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Benchmark reissued a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Bank of America upped 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. TD Cowen lowered their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Needham & Company LLC decreased their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Two equities 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 MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Trading Up 2.7 %

NASDAQ ON opened at $66.48 on Tuesday. The firm’s 50 day moving average price is $70.37 and its two-hundred day moving average price is $71.87. 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 twelve month low of $59.34 and a twelve month high of $86.77. The stock has a market cap of $28.31 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 6.94 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results 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. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. Equities analysts anticipate that Onsemi will post 4 EPS for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

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.