Federated Hermes Inc. Acquires 115,972 Shares of Onsemi (NASDAQ:ON)

Federated Hermes Inc. grew its holdings in shares of Onsemi (NASDAQ:ON) by 408.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,383 shares of the semiconductor company’s stock after buying an additional 115,972 shares during the quarter. Federated Hermes Inc.’s holdings in Onsemi were worth $9,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ON. Westside Investment Management Inc. lifted its position in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi during the 2nd quarter worth about $43,000. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi during the 1st quarter worth about $45,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Onsemi during the 2nd quarter worth about $53,000. 97.70% of the stock is owned by institutional investors.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Onsemi Stock Performance

Shares of Onsemi stock opened at $71.42 on Wednesday. The company has a 50 day moving average of $73.17 and a 200-day moving average of $72.35. Onsemi has a 1-year low of $59.34 and a 1-year high of $95.69. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a market cap of $30.59 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ON shares. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Finally, StockNews.com lowered shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.61.

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.