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

Advisors Asset Management Inc. reduced its stake in shares of Onsemi (NASDAQ:ON) by 22.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,221 shares of the semiconductor company’s stock after selling 6,388 shares during the quarter. Advisors Asset Management Inc.’s holdings in Onsemi were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ON. Apollon Wealth Management LLC boosted its position in Onsemi by 26.4% in the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after buying an additional 1,482 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after acquiring an additional 82,301 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Onsemi by 8.4% in the fourth 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 during the period. Harvest Fund Management Co. Ltd lifted its position in Onsemi by 7.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after purchasing an additional 637 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Onsemi by 3.6% in the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ON shares. B. Riley reiterated a “buy” rating and set a $103.00 price target (down from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. KeyCorp lowered their price target on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $77.00 in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company cut their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and a consensus target price of $88.36.

Onsemi Stock Up 3.9 %

Shares of NASDAQ ON opened at $70.17 on Friday. The stock has a market cap of $30.19 billion, a PE ratio of 14.32, a P/E/G ratio of 3.05 and a beta of 1.69. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The company has a 50-day moving average of $72.55 and a 200 day moving average of $73.18.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business earned $1.19 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Onsemi will post 4.02 EPS for the current fiscal year.

About Onsemi

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.