Intech Investment Management LLC Has $9.08 Million Stock Holdings in Onsemi (NASDAQ:ON)

Intech Investment Management LLC trimmed its holdings in Onsemi (NASDAQ:ON) by 48.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,422 shares of the semiconductor company’s stock after selling 124,497 shares during the quarter. Intech Investment Management LLC’s holdings in Onsemi were worth $9,078,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. First Eagle Investment Management LLC raised its holdings in shares of Onsemi by 42.6% in the second quarter. First Eagle Investment Management LLC now owns 11,012 shares of the semiconductor company’s stock valued at $755,000 after buying an additional 3,292 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Onsemi by 11.3% in the second quarter. Blair William & Co. IL now owns 4,249 shares of the semiconductor company’s stock valued at $291,000 after buying an additional 432 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Onsemi by 3.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,625 shares of the semiconductor company’s stock valued at $2,716,000 after buying an additional 1,261 shares during the last quarter. Tredje AP fonden raised its holdings in shares of Onsemi by 320.5% in the second quarter. Tredje AP fonden now owns 67,185 shares of the semiconductor company’s stock valued at $4,606,000 after buying an additional 51,207 shares during the last quarter. Finally, Argent Trust Co raised its holdings in Onsemi by 9.9% during the 2nd quarter. Argent Trust Co now owns 3,651 shares of the semiconductor company’s stock worth $250,000 after purchasing an additional 328 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Insider Activity

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

Onsemi Trading Down 5.2 %

NASDAQ:ON opened at $69.57 on Friday. Onsemi has a twelve month low of $59.34 and a twelve month high of $95.67. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $72.85 and a two-hundred day moving average price of $72.21. The company has a market cap of $29.80 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.66.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ON. Benchmark boosted their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Susquehanna upped their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Finally, Roth Mkm upped their price target on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi has a consensus rating of “Hold” and an average price target of $85.61.

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.