DekaBank Deutsche Girozentrale Sells 6,053 Shares of Onsemi (NASDAQ:ON)

DekaBank Deutsche Girozentrale trimmed its stake in Onsemi (NASDAQ:ON) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,837 shares of the semiconductor company’s stock after selling 6,053 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Onsemi were worth $11,627,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Onsemi by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after acquiring an additional 35,362 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Onsemi during the 1st quarter valued at about $2,447,000. Assenagon Asset Management S.A. increased its position in Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after buying an additional 88,496 shares in the last quarter. Norden Group LLC acquired a new position in Onsemi during the 1st quarter valued at about $774,000. Finally, Axxcess Wealth Management LLC acquired a new position in Onsemi during the 1st quarter valued at about $808,000. 97.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Onsemi

In other Onsemi 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 transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON stock opened at $70.37 on Tuesday. The company has a market capitalization of $30.14 billion, a P/E ratio of 14.36, a P/E/G ratio of 3.72 and a beta of 1.66. The business’s 50 day moving average is $73.27 and its two-hundred day moving average is $72.41. 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 has a 12-month low of $59.34 and a 12-month high of $95.69.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $1.74 billion for 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%. 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 business posted $1.33 earnings per share. Analysts expect that Onsemi will post 4.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ON has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. Bank of America upped their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. JPMorgan Chase & Co. boosted their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Benchmark boosted their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three equities research 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. Based on data from MarketBeat, Onsemi currently has a consensus 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.