New York State Teachers Retirement System Sells 27,673 Shares of Onsemi (NASDAQ:ON)

New York State Teachers Retirement System lessened its position in Onsemi (NASDAQ:ON) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 396,434 shares of the semiconductor company’s stock after selling 27,673 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Onsemi worth $27,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its position in shares of Onsemi by 26.4% in the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after acquiring an additional 1,482 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Onsemi by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after purchasing an additional 35,362 shares during the period. Mediolanum International Funds Ltd bought a new stake in Onsemi in the 1st quarter valued at $2,447,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Onsemi by 6.0% in the 4th 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 last quarter. Finally, Assenagon Asset Management S.A. raised its position 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 valued at $6,945,000 after buying an additional 88,496 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Activity

In other news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on 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 sale, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Up 4.1 %

Shares of NASDAQ ON opened at $76.36 on Friday. The firm has a 50 day moving average price of $72.53 and a 200 day moving average price of $73.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock has a market cap of $32.71 billion, a P/E ratio of 15.58, a P/E/G ratio of 4.07 and a beta of 1.69. Onsemi has a 52-week low of $59.34 and a 52-week high of $101.30.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. Analysts expect that Onsemi will post 4.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ON. TD Cowen boosted their price objective on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Rosenblatt Securities increased their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Bank of America lifted their price objective on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $85.61.

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.