EP Wealth Advisors LLC Sells 2,315 Shares of Onsemi (NASDAQ:ON)

EP Wealth Advisors LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 39.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,549 shares of the semiconductor company’s stock after selling 2,315 shares during the period. EP Wealth Advisors LLC’s holdings in Onsemi were worth $243,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ON. The Manufacturers Life Insurance Company boosted its position in Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after buying an additional 35,362 shares during the period. Mediolanum International Funds Ltd purchased a new position in Onsemi in the 1st quarter worth approximately $2,447,000. Assenagon Asset Management S.A. increased its stake in Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares during the period. Norden Group LLC bought a new stake in Onsemi in the first quarter valued at approximately $774,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Onsemi during the first quarter valued at approximately $808,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 1.7 %

Shares of ON stock opened at $71.54 on Friday. The stock’s 50-day moving average price is $72.40 and its 200-day moving average price is $71.71. Onsemi has a 12-month low of $59.34 and a 12-month high of $95.59. The stock has a market capitalization of $30.64 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 3.99 and a beta of 1.66. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on ON shares. Needham & Company LLC restated a “buy” rating and set a $92.00 price target on shares of Onsemi in a report on Thursday, June 13th. Roth Mkm boosted their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.61.

Insiders Place Their Bets

In related 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 owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction dated 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 directly owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.