Onsemi (NASDAQ:ON) Stock Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Onsemi (NASDAQ:ON) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,655 shares of the semiconductor company’s stock after selling 18,779 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Onsemi worth $27,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. increased its stake in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Onsemi during the 1st quarter valued at about $45,000. 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 worth $43,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC bought a new position in Onsemi in the second quarter worth about $43,000. Finally, Oakworth Capital Inc. acquired a new position in Onsemi in the second quarter valued at approximately $53,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Trading Down 4.3 %

Shares of Onsemi stock opened at $70.49 on Friday. The business has a fifty day simple moving average of $71.43 and a 200-day simple moving average of $71.49. The firm has a market cap of $30.19 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. 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 (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, equities analysts forecast that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Onsemi

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

Analyst Upgrades and Downgrades

ON has been the topic of a number of research reports. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research report on Tuesday. Morgan Stanley raised their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday. Roth Mkm upped their price target 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, Mizuho set a $85.00 price objective on shares of Onsemi in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

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.