Toronto Dominion Bank Cuts Position in Onsemi (NASDAQ:ON)

Toronto Dominion Bank lowered its stake in shares of Onsemi (NASDAQ:ON) by 30.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,828 shares of the semiconductor company’s stock after selling 73,566 shares during the period. Toronto Dominion Bank’s holdings in Onsemi were worth $12,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Coldstream Capital Management Inc. increased its position in shares of Onsemi by 19.6% in the third quarter. Coldstream Capital Management Inc. now owns 6,498 shares of the semiconductor company’s stock valued at $468,000 after buying an additional 1,066 shares in the last quarter. Geode Capital Management LLC grew its stake in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during the last quarter. M&T Bank Corp increased its holdings in Onsemi by 6.9% during the 3rd quarter. M&T Bank Corp now owns 32,519 shares of the semiconductor company’s stock valued at $2,362,000 after acquiring an additional 2,110 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Onsemi by 18.7% during the third quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock worth $14,116,000 after acquiring an additional 30,695 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Onsemi by 0.3% in the third quarter. Hodges Capital Management Inc. now owns 183,314 shares of the semiconductor company’s stock valued at $13,310,000 after purchasing an additional 537 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on ON shares. BNP Paribas cut their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Truist Financial decreased their price objective on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley upped their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company initiated coverage on shares of Onsemi in a report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Stock Down 1.7 %

Shares of NASDAQ:ON opened at $65.96 on Friday. The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 7.29 and a beta of 1.63. The company has a 50 day moving average of $69.45 and a two-hundred day moving average of $71.39. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released 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. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business earned $1.39 EPS. The business’s revenue was down 19.2% on a year-over-year basis. As a group, analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 4,500 shares of company stock valued at $321,765. 0.31% of the stock is currently owned by insiders.

Onsemi Company 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.