Onsemi (NASDAQ:ON) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Onsemi (NASDAQ:ON) by 8.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,102 shares of the semiconductor company’s stock after selling 1,242 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Onsemi were worth $1,037,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in shares of Onsemi during the fourth quarter valued at about $47,000. Assenagon Asset Management S.A. increased its stake in shares of Onsemi by 94.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 67,021 shares of the semiconductor company’s stock worth $5,598,000 after buying an additional 32,496 shares during the last quarter. Planned Solutions Inc. acquired a new stake in Onsemi in the fourth quarter valued at $46,000. Blue Trust Inc. boosted its stake in Onsemi by 11.6% during the 4th quarter. Blue Trust Inc. now owns 4,541 shares of the semiconductor company’s stock valued at $379,000 after acquiring an additional 473 shares during the last quarter. Finally, Caprock Group LLC grew its stake in Onsemi by 34.3% in the fourth quarter. Caprock Group LLC now owns 4,795 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 1,225 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

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

Onsemi Stock Up 12.9 %

Shares of ON traded up $9.07 during trading hours on Monday, reaching $79.24. The company’s stock had a trading volume of 10,948,507 shares, compared to its average volume of 6,824,990. The company has a 50 day moving average of $72.55 and a two-hundred day moving average of $73.16. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The firm has a market cap of $34.09 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 3.05 and a beta of 1.69. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. As a group, research analysts predict that Onsemi will post 4.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on ON shares. Needham & Company LLC reissued a “buy” rating and set a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. B. Riley restated a “buy” rating and set a $103.00 price objective (down previously from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Benchmark dropped their target price on Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company reduced their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.36.

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.