US Bancorp DE Purchases 47,721 Shares of Onsemi (NASDAQ:ON)

US Bancorp DE grew its stake in shares of Onsemi (NASDAQ:ON) by 83.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 104,590 shares of the semiconductor company’s stock after acquiring an additional 47,721 shares during the quarter. US Bancorp DE’s holdings in Onsemi were worth $7,693,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after purchasing an additional 321,682 shares during the period. Capital World Investors purchased a new stake in shares of Onsemi during the fourth quarter valued at approximately $697,276,000. Norges Bank purchased a new stake in shares of Onsemi during the fourth quarter valued at approximately $418,102,000. Capital International Investors increased its position in shares of Onsemi by 1.1% during the fourth quarter. Capital International Investors now owns 4,064,889 shares of the semiconductor company’s stock valued at $339,590,000 after acquiring an additional 43,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Onsemi by 25.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after acquiring an additional 645,969 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s 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 completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Trent Thad sold 38,000 shares of the business’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 owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Stock Performance

Shares of ON traded down $1.31 during trading hours on Wednesday, reaching $77.43. 3,277,094 shares of the company traded hands, compared to its average volume of 6,707,706. The business has a fifty day moving average price of $72.48 and a 200-day moving average price of $73.48. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The stock has a market capitalization of $33.31 billion, a P/E ratio of 16.07, a P/E/G ratio of 3.48 and a beta of 1.69.

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

Wall Street Analyst Weigh In

ON has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and set a $103.00 price objective (down from $115.00) on shares of Onsemi in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Benchmark reduced their target price on Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Mizuho cut their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Morgan Stanley cut Onsemi from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $70.00 to $65.00 in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.36.

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.