Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Onsemi (NASDAQ:ON)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Onsemi (NASDAQ:ON) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940,280 shares of the semiconductor company’s stock after selling 56,151 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.22% of Onsemi worth $69,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi during the 4th quarter valued at $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in Onsemi during the 4th quarter valued at $33,000. Private Wealth Management Group LLC purchased a new stake in Onsemi during the 4th quarter valued at $33,000. Westside Investment Management Inc. raised its holdings in 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 buying an additional 550 shares during the period. Finally, Headinvest LLC purchased a new stake in Onsemi during the 3rd quarter valued at $44,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onsemi

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was 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 directly owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was 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 in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial reduced their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Jefferies Financial Group assumed coverage on Onsemi in a research note on Monday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. KeyCorp reduced their target price on Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Finally, B. Riley reiterated a “buy” rating and issued a $103.00 target price (down previously from $115.00) on shares of Onsemi in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.28.

Onsemi Stock Up 1.0 %

ON stock traded up $0.70 during trading on Friday, reaching $73.38. 3,028,792 shares of the company traded hands, compared to its average volume of 4,764,349. The business has a 50 day simple moving average of $71.67 and a 200 day simple moving average of $74.02. 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 company has a market capitalization of $31.57 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 3.31 and a beta of 1.69.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business posted $1.19 earnings per share. The firm’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Onsemi will post 3.83 earnings per share for the current fiscal 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.