Insider Selling: Onsemi (NASDAQ:ON) CFO Sells $2,756,900.00 in Stock

Onsemi (NASDAQ:ON) CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Onsemi Stock Down 4.1 %

Shares of Onsemi stock opened at $71.97 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The stock has a market capitalization of $30.96 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 3.42 and a beta of 1.71. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a 50-day simple moving average of $70.42 and a two-hundred day simple moving average of $74.77.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts anticipate that Onsemi will post 3.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Susquehanna dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Truist Financial dropped their target price on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company dropped their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Institutional Trading of Onsemi

Large investors have recently made changes to their positions in the stock. Provence Wealth Management Group bought a new stake in shares of Onsemi in the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Onsemi in the fourth quarter worth approximately $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the fourth quarter valued at approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new stake in Onsemi during the third quarter valued at approximately $38,000. 97.70% of the stock is currently owned by institutional investors.

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.