Kentucky Retirement Systems Insurance Trust Fund Sells 1,194 Shares of Onsemi (NASDAQ:ON)

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in Onsemi (NASDAQ:ON) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,683 shares of the semiconductor company’s stock after selling 1,194 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Onsemi were worth $921,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ON shares. Morgan Stanley boosted their price objective on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Loop Capital started coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price target for the company. Mizuho set a $85.00 price target on Onsemi in a research report on Friday, October 18th. KeyCorp cut their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Roth Mkm increased their target price on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Trading Down 3.4 %

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

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. As a group, analysts anticipate that Onsemi will post 4 earnings per share for the current year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company 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.