Onsemi (NASDAQ:ON) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in Onsemi (NASDAQ:ON) by 23.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,027 shares of the semiconductor company’s stock after selling 109,844 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Onsemi worth $24,474,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of 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 buying an additional 321,682 shares during the last quarter. Capital World Investors purchased a new position in shares of Onsemi during the fourth quarter worth about $697,276,000. Capital International Investors increased its position in shares of Onsemi by 1.0% during the first quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after purchasing an additional 42,117 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of 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 last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Onsemi by 7.9% in the 2nd quarter. Van ECK Associates Corp now owns 2,765,975 shares of the semiconductor company’s stock valued at $189,608,000 after purchasing an additional 201,852 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, September 16th. The shares were 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 directly owns 840,620 shares in the company, valued at $59,515,896. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ON shares. Rosenblatt Securities lifted their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.61.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $69.57 on Monday. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.66. 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 business’s 50 day simple moving average is $72.85 and its 200-day simple moving average is $72.14. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.67.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion for 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 was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, equities analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

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.