State of Alaska Department of Revenue Sells 12,005 Shares of Onsemi (NASDAQ:ON)

State of Alaska Department of Revenue cut its holdings in Onsemi (NASDAQ:ON) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,774 shares of the semiconductor company’s stock after selling 12,005 shares during the quarter. State of Alaska Department of Revenue’s holdings in Onsemi were worth $7,779,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi during the 4th quarter valued at about $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in Onsemi during the 4th quarter valued at about $33,000. Private Wealth Management Group LLC purchased a new stake in Onsemi during the 4th quarter valued at about $33,000. Headinvest LLC purchased a new stake in Onsemi during the 3rd quarter valued at about $44,000. Finally, Planned Solutions Inc. purchased a new stake in Onsemi during the 4th quarter valued at about $46,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Onsemi

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

Analyst Ratings Changes

A number of analysts have recently issued reports on ON shares. The Goldman Sachs Group dropped their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. KeyCorp dropped their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Benchmark dropped their price target on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Truist Financial lowered their price objective on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, BNP Paribas reiterated an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $90.28.

Onsemi Price Performance

ON traded down $0.24 during trading on Wednesday, reaching $72.68. 3,906,417 shares of the company traded hands, compared to its average volume of 6,833,691. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The firm has a fifty day simple moving average of $71.30 and a 200 day simple moving average of $74.11. The company has a market cap of $31.27 billion, a P/E ratio of 14.88, a PEG ratio of 3.12 and a beta of 1.69.

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 analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $1.19 EPS. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Onsemi will post 3.83 EPS for the current year.

About Onsemi

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.