Assetmark Inc. Sells 2,061 Shares of Onsemi (NASDAQ:ON)

Assetmark Inc. lowered its stake in shares of Onsemi (NASDAQ:ON) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,260 shares of the semiconductor company’s stock after selling 2,061 shares during the quarter. Assetmark Inc.’s holdings in Onsemi were worth $5,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Onsemi during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. raised its position in 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 during the period. Massmutual Trust Co. FSB ADV boosted its stake in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Onsemi during the 2nd quarter valued at approximately $43,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Onsemi during the 2nd quarter worth approximately $53,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ON. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $77.00 in a report on Monday, July 15th. TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. Roth Mkm increased their target price on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Trading Down 0.6 %

Shares of ON stock opened at $69.96 on Tuesday. The stock’s 50 day simple moving average is $70.60 and its two-hundred day simple moving average is $71.95. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The company has a market cap of $29.79 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 7.55 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

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

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

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.