Onsemi (NASDAQ:ON) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its position in Onsemi (NASDAQ:ON) by 15.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 42,682 shares of the semiconductor company’s stock after selling 7,511 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Onsemi were worth $2,926,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Onsemi by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after buying an additional 321,682 shares during the last quarter. Capital World Investors purchased a new stake in shares of Onsemi during the 4th quarter valued at about $697,276,000. Norges Bank purchased a new position in Onsemi in the 4th quarter worth approximately $418,102,000. Capital International Investors raised its stake in shares of Onsemi by 1.0% during the first quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock valued at $302,070,000 after purchasing an additional 42,117 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Onsemi by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after purchasing an additional 645,969 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated 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 sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Insiders have sold a total of 69,850 shares of company stock valued at $5,236,119 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Price Performance

NASDAQ:ON traded down $0.93 on Friday, hitting $71.30. The company had a trading volume of 4,275,707 shares, compared to its average volume of 7,046,066. The firm has a 50 day moving average of $72.30 and a two-hundred day moving average of $73.01. The stock has a market capitalization of $30.68 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 3.12 and a beta of 1.69. Onsemi has a 52 week low of $59.34 and a 52 week high of $101.30. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the company posted $1.33 EPS. On average, research analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Bank of America boosted their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company decreased 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. The Goldman Sachs Group dropped their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, Mizuho dropped their price target on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Three 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’s stock. According to MarketBeat, the company currently has an average 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.