Onsemi (NASDAQ:ON) Holdings Decreased by Sienna Gestion

Sienna Gestion reduced its holdings in Onsemi (NASDAQ:ON) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,931 shares of the semiconductor company’s stock after selling 35,325 shares during the period. Sienna Gestion’s holdings in Onsemi were worth $6,916,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after acquiring an additional 321,682 shares in the last quarter. Capital World Investors purchased a new stake in shares of Onsemi during the 4th quarter worth about $697,276,000. Dimensional Fund Advisors LP lifted its holdings in shares of Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares during the last quarter. Capital International Investors grew its stake in shares of Onsemi by 1.0% in the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock valued at $302,070,000 after buying an additional 42,117 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in Onsemi by 35.6% in the fourth quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock worth $249,717,000 after buying an additional 785,305 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Simon Keeton sold 30,939 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the SEC, which is available at this link. In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was 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 of the company’s stock, valued at $59,515,896. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Onsemi Stock Performance

NASDAQ ON opened at $70.64 on Thursday. The company’s fifty day moving average is $73.13 and its two-hundred day moving average is $72.29. Onsemi has a 52-week low of $59.34 and a 52-week high of $95.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The firm has a market capitalization of $30.39 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 3.72 and a beta of 1.66.

Onsemi (NASDAQ:ON) last released its 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 return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business earned $1.33 earnings per share. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. Equities research analysts forecast that Onsemi will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ON. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research note on Thursday, June 13th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. KeyCorp decreased their price objective on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Benchmark raised their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.