Onsemi (NASDAQ:ON) Position Lessened by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in Onsemi (NASDAQ:ON) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,363 shares of the semiconductor company’s stock after selling 376 shares during the quarter. Advisors Asset Management Inc.’s holdings in Onsemi were worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC lifted its stake in shares of Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after buying an additional 88,496 shares during the last quarter. Comerica Bank boosted its stake in shares of Onsemi by 21.1% during the 1st quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after acquiring an additional 17,198 shares in the last quarter. Deltec Asset Management LLC acquired a new position in shares of Onsemi during the 2nd quarter valued at about $1,212,000. Finally, Brighton Jones LLC raised its stake in shares of Onsemi by 116.6% in the 3rd quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after acquiring an additional 13,923 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ON. Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Roth Mkm boosted their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Bank of America raised their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. KeyCorp cut their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Trading Up 4.0 %

Shares of NASDAQ ON opened at $72.39 on Tuesday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $70.25 and a two-hundred day moving average of $71.81. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The company has a market cap of $30.82 billion, a PE ratio of 17.96, a P/E/G ratio of 7.47 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. As a group, equities analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.