Onsemi (NASDAQ:ON) Shares Sold by Burney Co.

Burney Co. cut its stake in Onsemi (NASDAQ:ON) by 84.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,845 shares of the semiconductor company’s stock after selling 43,859 shares during the quarter. Burney Co.’s holdings in Onsemi were worth $577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ON. Apollon Wealth Management LLC raised its stake in shares of Onsemi by 26.4% in the 4th quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after acquiring an additional 1,482 shares during the period. International Assets Investment Management LLC grew its stake in shares of Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position 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 purchasing an additional 35,362 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Onsemi by 7.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after acquiring an additional 637 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Onsemi during the first quarter worth $2,447,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred 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 completion of 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. Over the last 90 days, insiders sold 69,850 shares of company stock valued at $5,236,119. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ON shares. Mizuho decreased their price objective 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. Jefferies Financial Group started coverage on Onsemi in a research report on Monday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. KeyCorp dropped their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Benchmark upped their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley cut shares of Onsemi from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.61.

Onsemi Trading Down 5.5 %

Shares of Onsemi stock traded down $3.95 during mid-day trading on Friday, hitting $67.95. 11,552,915 shares of the stock were exchanged, compared to its average volume of 8,036,488. The company has a 50-day simple moving average of $72.60 and a 200 day simple moving average of $73.18. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $29.11 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69. Onsemi has a twelve month low of $59.34 and a twelve month high of $104.87.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS 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 the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. Research analysts forecast that Onsemi will post 4.01 EPS for the current year.

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.