Onsemi (NASDAQ:ON) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its position in shares of Onsemi (NASDAQ:ON) by 16.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,180 shares of the semiconductor company’s stock after selling 9,349 shares during the period. Inspire Investing LLC’s holdings in Onsemi were worth $3,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. increased its position in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares in the last quarter. International Assets Investment Management LLC bought a new position in Onsemi during the 2nd quarter worth approximately $43,000. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi in the 1st quarter worth approximately $45,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Onsemi in the 2nd quarter valued at approximately $53,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Down 1.1 %

Shares of NASDAQ:ON opened at $70.64 on Thursday. The company has a 50 day moving average of $73.01 and a 200-day moving average of $72.27. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The firm has a market cap of $30.39 billion, a P/E ratio of 14.42, a P/E/G ratio of 3.72 and a beta of 1.66. Onsemi has a twelve month low of $59.34 and a twelve month high of $95.69.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $1.33 earnings per share. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. As a group, analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ON shares. KeyCorp reduced their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. TD Cowen raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research report on Thursday, June 13th. Truist Financial increased their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Benchmark lifted their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Onsemi 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.