Arizona State Retirement System Has $8.05 Million Stock Holdings in Onsemi (NASDAQ:ON)

Arizona State Retirement System cut its position in shares of Onsemi (NASDAQ:ON) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,386 shares of the semiconductor company’s stock after selling 6,210 shares during the quarter. Arizona State Retirement System’s holdings in Onsemi were worth $8,047,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Onsemi by 23.5% during the fourth quarter. Private Advisor Group LLC now owns 8,551 shares of the semiconductor company’s stock worth $714,000 after purchasing an additional 1,625 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Onsemi by 26.4% in the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after acquiring an additional 1,482 shares during the last quarter. Montag A & Associates Inc. raised its stake in shares of Onsemi by 184.6% in the fourth quarter. Montag A & Associates Inc. now owns 1,167 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 757 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Onsemi in the fourth quarter valued at approximately $204,000. Finally, Qsemble Capital Management LP raised its stake in shares of Onsemi by 4.7% in the fourth quarter. Qsemble Capital Management LP now owns 13,089 shares of the semiconductor company’s stock valued at $1,093,000 after acquiring an additional 589 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Onsemi 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 completion of the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Onsemi 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 completion of the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Onsemi Price Performance

ON opened at $67.92 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a 12 month low of $59.34 and a 12 month high of $99.75. The company has a fifty day simple moving average of $73.50 and a 200 day simple moving average of $72.70. The stock has a market cap of $29.22 billion, a P/E ratio of 13.86, a P/E/G ratio of 4.18 and a beta of 1.66.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on ON. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research note on Thursday, June 13th. Rosenblatt Securities boosted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Jefferies Financial Group started coverage on shares of Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. KeyCorp dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, 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 report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $85.61.

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.