The Manufacturers Life Insurance Company Reduces Stock Position in onsemi (NASDAQ:ON)

The Manufacturers Life Insurance Company trimmed its holdings in shares of onsemi (NASDAQ:ONGet Rating) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 348,433 shares of the semiconductor company’s stock after selling 2,075 shares during the period. The Manufacturers Life Insurance Company’s holdings in onsemi were worth $21,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new position in shares of onsemi in the 2nd quarter valued at $25,000. Assetmark Inc. purchased a new position in shares of onsemi during the second quarter worth about $27,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of onsemi during the third quarter worth about $30,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of onsemi in the 3rd quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of onsemi by 28.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 905 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 200 shares during the last quarter. 96.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on ON shares. Truist Financial lifted their price target on onsemi from $72.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com started coverage on shares of onsemi in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. UBS Group lowered their price objective on shares of onsemi to $65.00 in a research report on Friday, November 4th. Piper Sandler dropped their price objective on shares of onsemi from $90.00 to $75.00 in a research note on Monday, October 31st. Finally, Susquehanna decreased their target price on shares of onsemi from $82.00 to $80.00 and set a “positive” rating for the company in a research note on Tuesday, November 1st. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $74.64.

onsemi Trading Down 1.0 %

NASDAQ:ON opened at $70.08 on Wednesday. onsemi has a 1 year low of $44.76 and a 1 year high of $77.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.12 and a current ratio of 3.02. The stock has a fifty day moving average price of $67.28 and a two-hundred day moving average price of $66.06. The stock has a market capitalization of $30.30 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.77 and a beta of 1.76.

onsemi (NASDAQ:ONGet Rating) last announced its quarterly earnings results on Monday, October 31st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.14. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.12 billion. onsemi had a net margin of 21.36% and a return on equity of 43.37%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. As a group, sell-side analysts anticipate that onsemi will post 5.28 earnings per share for the current fiscal year.

onsemi Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding ON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for onsemi (NASDAQ:ONGet Rating).

Institutional Ownership by Quarter for onsemi (NASDAQ:ON)

Receive News & Ratings for onsemi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for onsemi and related companies with MarketBeat.com's FREE daily email newsletter.