Empowered Funds LLC Sells 90,439 Shares of Onsemi (NASDAQ:ON)

Empowered Funds LLC reduced its stake in shares of Onsemi (NASDAQ:ON) by 68.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 41,342 shares of the semiconductor company’s stock after selling 90,439 shares during the quarter. Empowered Funds LLC’s holdings in Onsemi were worth $3,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Swedbank AB bought a new stake in shares of Onsemi during the 1st quarter worth $90,274,000. American Century Companies Inc. lifted its position in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after acquiring an additional 909,558 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after purchasing an additional 574,900 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

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

Onsemi Stock Up 2.7 %

ON opened at $66.48 on Tuesday. The firm has a market cap of $28.31 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 6.94 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm’s 50-day simple moving average is $70.37 and its 200-day simple moving average is $71.87. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s revenue was down 19.2% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. Equities research analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ON. BNP Paribas lowered their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. KeyCorp dropped their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Mizuho set a $85.00 price objective on shares of Onsemi in a research report on Friday, October 18th. Finally, Roth Mkm lifted their target price on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $86.30.

Onsemi Company 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.