Kentucky Retirement Systems Insurance Trust Fund Sells 1,194 Shares of Onsemi (NASDAQ:ON)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Onsemi (NASDAQ:ON) by 8.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,683 shares of the semiconductor company’s stock after selling 1,194 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Onsemi were worth $921,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after buying an additional 190 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Onsemi by 1.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,896 shares of the semiconductor company’s stock valued at $3,008,000 after purchasing an additional 570 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of Onsemi by 29.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 66,769 shares of the semiconductor company’s stock valued at $4,911,000 after purchasing an additional 15,197 shares during the last quarter. Pitcairn Co. raised its position in Onsemi by 393.1% in the 1st quarter. Pitcairn Co. now owns 15,492 shares of the semiconductor company’s stock worth $1,139,000 after purchasing an additional 12,350 shares during the period. Finally, Natixis lifted its stake in Onsemi by 2,086.0% in the first quarter. Natixis now owns 556,873 shares of the semiconductor company’s stock worth $40,958,000 after purchasing an additional 531,398 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ON shares. KeyCorp decreased their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Bank of America lifted their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Roth Mkm increased their price objective on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.30.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Onsemi Trading Down 3.4 %

Shares of NASDAQ ON opened at $64.76 on Monday. The stock has a market cap of $27.57 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 6.94 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a 50-day moving average of $70.43 and a 200 day moving average of $71.89. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. As a group, sell-side analysts expect that Onsemi will post 4 EPS 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.