Massachusetts Financial Services Co. MA Sells 17,450 Shares of Onsemi (NASDAQ:ON)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Onsemi (NASDAQ:ON) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,682,446 shares of the semiconductor company’s stock after selling 17,450 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.39% of Onsemi worth $115,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Onsemi by 8.4% during 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 acquiring an additional 35,362 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Onsemi in the 1st quarter valued at $2,447,000. Assenagon Asset Management S.A. increased its position in shares of Onsemi by 690.2% in the 2nd 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 in the last quarter. Norden Group LLC bought a new stake in shares of Onsemi in the 1st quarter valued at $774,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Onsemi in the 1st quarter valued at $808,000. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ON. TD Cowen upped their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Bank of America upped their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Benchmark upped their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Susquehanna increased their target price on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Hold” and a consensus price target of $85.61.

Onsemi Trading Down 1.1 %

Shares of NASDAQ:ON opened at $70.64 on Thursday. Onsemi has a 52-week low of $59.34 and a 52-week high of $95.69. The company has a market capitalization of $30.39 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66. The company has a 50-day simple moving average of $73.13 and a 200 day simple moving average of $72.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

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

Insider Activity at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated 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 directly owns 231,092 shares in the company, valued at $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company 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.