Sumitomo Mitsui Trust Holdings Inc. Sells 134,293 Shares of Onsemi (NASDAQ:ON)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Onsemi (NASDAQ:ON) by 11.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,041,418 shares of the semiconductor company’s stock after selling 134,293 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Onsemi worth $71,389,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ON. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi in the fourth quarter valued at about $33,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi during the 4th quarter valued at approximately $33,000. Westside Investment Management Inc. grew its holdings in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Onsemi in the 1st quarter valued at approximately $45,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction on 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. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

ON traded down $0.04 during trading hours on Friday, hitting $75.84. The stock had a trading volume of 5,390,098 shares, compared to its average volume of 7,003,052. The stock has a market cap of $32.63 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 3.34 and a beta of 1.69. Onsemi has a 1 year low of $59.34 and a 1 year high of $101.30. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $72.34 and its 200 day simple moving average is $73.01.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. Equities analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

ON has been the topic of several recent research reports. B. Riley reiterated a “buy” rating and set a $103.00 target price (down from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Friday. Benchmark lifted their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.61.

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.