Mercer Global Advisors Inc. ADV Sells 3,548 Shares of Onsemi (NASDAQ:ON)

Mercer Global Advisors Inc. ADV decreased its position in shares of Onsemi (NASDAQ:ON) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,003 shares of the semiconductor company’s stock after selling 3,548 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Onsemi were worth $4,319,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Onsemi by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after purchasing an additional 321,682 shares during the period. Capital World Investors acquired a new stake in Onsemi in the 4th quarter valued at $697,276,000. Dimensional Fund Advisors LP grew its position in Onsemi by 18.7% in 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 purchasing an additional 665,633 shares during the period. Capital International Investors grew its position in 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 purchasing an additional 42,117 shares during the period. Finally, Rafferty Asset Management LLC grew its position in Onsemi by 35.6% in the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock valued at $249,717,000 after purchasing an additional 785,305 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Down 5.2 %

Shares of NASDAQ ON opened at $69.57 on Friday. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.67. 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 firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 3.77 and a beta of 1.66. The business has a 50-day moving average of $72.85 and a 200-day moving average of $72.18.

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, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Sell-side analysts expect that Onsemi will post 4.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ON has been the topic of a number of analyst reports. KeyCorp cut their price objective on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Bank of America lifted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Roth Mkm boosted their price target on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Truist Financial boosted their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Three equities 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’s stock. According to MarketBeat.com, Onsemi currently has a consensus rating of “Hold” and a consensus price target of $85.61.

Insiders Place Their Bets

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 transaction 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 $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 transaction of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

About Onsemi

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.