Sumitomo Mitsui Trust Holdings Inc. Cuts Holdings in Onsemi (NASDAQ:ON)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Onsemi (NASDAQ:ON) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175,711 shares of the semiconductor company’s stock after selling 18,561 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Onsemi worth $86,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi during the 4th quarter valued at $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi in the fourth quarter worth about $33,000. Private Wealth Management Group LLC purchased a new position in shares of Onsemi during the fourth quarter valued at approximately $33,000. Headinvest LLC bought a new position in shares of Onsemi during the third quarter valued at approximately $44,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Onsemi in the fourth quarter worth approximately $46,000. 97.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Mizuho decreased their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. KeyCorp dropped their target price on Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. BNP Paribas reiterated an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $90.28.

Onsemi Stock Performance

Shares of ON stock opened at $72.68 on Friday. The stock has a market cap of $31.27 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.31 and a beta of 1.69. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The business has a 50-day simple moving average of $71.56 and a 200-day simple moving average of $74.09. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. Onsemi’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. On average, equities analysts expect that Onsemi will post 3.83 EPS for the current year.

Insider Buying and Selling

In other news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. 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.