Swedbank AB reduced its position in Onsemi (NASDAQ:ON - Free Report) by 24.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 681,108 shares of the semiconductor company's stock after selling 225,902 shares during the quarter. Swedbank AB owned approximately 0.16% of Onsemi worth $49,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Mediolanum International Funds Ltd bought a new stake in Onsemi during the first quarter valued at $2,447,000. Assenagon Asset Management S.A. grew its stake in shares of Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company's stock worth $6,945,000 after buying an additional 88,496 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Onsemi in the 1st quarter worth approximately $774,000. Axxcess Wealth Management LLC bought a new position in Onsemi in the 1st quarter valued at approximately $808,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Onsemi by 42.9% during the 1st quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company's stock valued at $1,914,000 after buying an additional 7,820 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on ON shares. Rosenblatt Securities increased their price target on Onsemi from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. StockNews.com lowered Onsemi from a "hold" rating to a "sell" rating in a research report on Monday, August 26th. Bank of America boosted their price target on Onsemi from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Finally, Susquehanna boosted their price objective on shares of Onsemi from $85.00 to $95.00 and gave the stock a "positive" rating in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $85.83.
View Our Latest Stock Analysis on ON
In other news, insider Simon Keeton sold 30,939 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company's stock, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares of the company's stock, valued at $59,515,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
ON stock opened at $69.32 on Wednesday. Onsemi has a 52-week low of $59.34 and a 52-week high of $92.86. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The company's 50-day simple moving average is $72.15 and its 200-day simple moving average is $71.50. The firm has a market cap of $29.82 billion, a P/E ratio of 14.15, a PEG ratio of 3.81 and a beta of 1.65.
Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings results 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. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The company's revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities analysts forecast that Onsemi will post 4.01 EPS for the current fiscal year.
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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