M&G Plc Decreases Position in Onsemi (NASDAQ:ON)

by · The Markets Daily

M&G Plc decreased its stake in Onsemi (NASDAQ:ON – Free Report) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 735,073 shares of the semiconductor company’s stock after selling 5,493 shares during the period. M&G Plc owned approximately 0.17% of Onsemi worth $53,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ON. GHP Investment Advisors Inc. lifted its stake in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi in the first quarter worth about $45,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi in the second quarter worth about $43,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Onsemi in the second quarter worth about $53,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

ON opened at $72.27 on Thursday. The stock has a fifty day moving average of $71.00 and a 200-day moving average of $71.74. The firm has a market capitalization of $30.77 billion, a P/E ratio of 17.93, a PEG ratio of 7.45 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON – Get Free Report) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup cut 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 research note on Monday, July 15th. Bank of America upped their price objective on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Susquehanna upped their price objective on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $85.91.

Read Our Latest Stock Analysis on ON

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

About Onsemi

(Free Report)

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.

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