Rehmann Capital Advisory Group Cuts Holdings in Onsemi (NASDAQ:ON)

Rehmann Capital Advisory Group cut its position in shares of Onsemi (NASDAQ:ON) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,233 shares of the semiconductor company’s stock after selling 250 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Onsemi were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ON. Comerica Bank raised its position in Onsemi by 82.4% in the third quarter. Comerica Bank now owns 134,460 shares of the semiconductor company’s stock worth $12,498,000 after acquiring an additional 60,740 shares during the period. Graham Capital Management L.P. boosted its position in shares of Onsemi by 307.6% in the third quarter. Graham Capital Management L.P. now owns 10,487 shares of the semiconductor company’s stock valued at $975,000 after acquiring an additional 7,914 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Onsemi by 13.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,664 shares of the semiconductor company’s stock valued at $526,000 after acquiring an additional 689 shares during the period. Headinvest LLC bought a new position in shares of Onsemi in the third quarter valued at approximately $44,000. Finally, DNB Asset Management AS boosted its position in shares of Onsemi by 185.8% in the fourth quarter. DNB Asset Management AS now owns 249,441 shares of the semiconductor company’s stock valued at $20,836,000 after acquiring an additional 162,172 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the business’s 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 owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were 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 owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now directly 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. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ON. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday. Mizuho dropped their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research 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. B. Riley reissued a “buy” rating and set a $103.00 price target (down from $115.00) on shares of Onsemi in a research note on Tuesday, April 30th. Finally, Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.08.

Onsemi Stock Up 4.1 %

Onsemi stock traded up $3.04 during mid-day trading on Wednesday, reaching $76.52. The stock had a trading volume of 3,880,133 shares, compared to its average volume of 6,756,503. The company has a market capitalization of $32.92 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 3.42 and a beta of 1.69. The company has a 50-day moving average price of $71.82 and a two-hundred day moving average price of $73.76. Onsemi has a one year low of $59.34 and a one year high of $111.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87.

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

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.