IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 1,003 Shares of Onsemi (NASDAQ:ON)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in Onsemi (NASDAQ:ON) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,383 shares of the semiconductor company’s stock after selling 1,003 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Onsemi were worth $1,123,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in shares of Onsemi by 26.4% during the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock worth $592,000 after buying an additional 1,482 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after buying an additional 35,362 shares during the period. Mediolanum International Funds Ltd acquired a new position in Onsemi during the first quarter valued at $2,447,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Onsemi by 6.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 480,948 shares of the semiconductor company’s stock valued at $38,144,000 after purchasing an additional 27,426 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after purchasing an additional 88,496 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Up 2.2 %

Shares of NASDAQ:ON traded up $1.67 during trading hours on Thursday, reaching $76.30. The stock had a trading volume of 4,843,252 shares, compared to its average volume of 6,906,507. Onsemi has a 1 year low of $59.34 and a 1 year high of $101.30. The firm’s 50 day moving average is $72.97 and its 200-day moving average is $73.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 4.07 and a beta of 1.69.

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

Insiders Place Their Bets

In other news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ON has been the subject of a number of research reports. Benchmark boosted their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. StockNews.com downgraded shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday. Rosenblatt Securities upped their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group assumed coverage on shares of Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.61.

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.