Ameritas Investment Partners Inc. Sells 271 Shares of Onsemi (NASDAQ:ON)

Ameritas Investment Partners Inc. cut its holdings in shares of Onsemi (NASDAQ:ON) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,007 shares of the semiconductor company’s stock after selling 271 shares during the period. Ameritas Investment Partners Inc.’s holdings in Onsemi were worth $1,251,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Onsemi by 0.6% in 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 last quarter. Capital World Investors acquired a new stake in shares of Onsemi during the fourth quarter worth $697,276,000. Norges Bank acquired a new stake in shares of Onsemi during the fourth quarter worth $418,102,000. Capital International Investors lifted its stake 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 worth $339,590,000 after buying an additional 43,565 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake 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 worth $268,835,000 after buying an additional 645,969 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

NASDAQ ON traded down $3.94 during trading hours on Tuesday, hitting $73.39. 7,548,254 shares of the company’s stock traded hands, compared to its average volume of 6,759,042. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a market capitalization of $31.57 billion, a PE ratio of 15.78, a PEG ratio of 3.30 and a beta of 1.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The firm’s 50-day moving average is $72.80 and its 200-day moving average is $73.34.

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

Analyst Ratings Changes

Several research firms have recently commented on ON. BNP Paribas reiterated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. Evercore ISI started coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price for the company. Rosenblatt Securities decreased their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Morgan Stanley downgraded shares of Onsemi from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft decreased 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.36.

Insider Activity at Onsemi

In related 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated 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 directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Onsemi 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.