Onsemi (NASDAQ:ON) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in shares of Onsemi (NASDAQ:ON) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,736 shares of the semiconductor company’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in Onsemi were worth $10,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ON. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi in the fourth quarter worth about $32,000. MeadowBrook Investment Advisors LLC bought a new position in Onsemi during the 4th quarter worth approximately $33,000. Private Wealth Management Group LLC acquired a new position in shares of Onsemi in the 4th quarter worth approximately $33,000. Headinvest LLC bought a new stake in shares of Onsemi in the 3rd quarter valued at approximately $44,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $46,000. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Trent Thad sold 38,000 shares of Onsemi 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 completion of the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Onsemi Price Performance

NASDAQ:ON traded up $3.74 during midday trading on Tuesday, hitting $72.92. 5,795,680 shares of the stock were exchanged, compared to its average volume of 6,856,903. The company has a market capitalization of $31.37 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 3.12 and a beta of 1.69. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. Onsemi has a one year low of $59.34 and a one year high of $111.35. The business has a 50-day moving average price of $71.07 and a two-hundred day moving average price of $74.20.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data 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 return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. Sell-side analysts predict that Onsemi will post 3.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. The Goldman Sachs Group decreased their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Mizuho dropped their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Rosenblatt Securities cut their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Finally, Evercore ISI initiated coverage on Onsemi in a report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.28.

Onsemi Company 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.