Sumitomo Mitsui Trust Group Inc. Has $77.10 Million Holdings in Onsemi (NASDAQ:ON)

Sumitomo Mitsui Trust Group Inc. grew its stake in Onsemi (NASDAQ:ON) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,061,823 shares of the semiconductor company’s stock after buying an additional 20,405 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Onsemi worth $77,099,000 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. Bleakley Financial Group LLC lifted its position in shares of Onsemi by 3.8% during the 1st quarter. Bleakley Financial Group LLC now owns 7,688 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 282 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Onsemi during the 1st quarter worth about $555,000. First Eagle Investment Management LLC lifted its position in shares of Onsemi by 6.9% during the 1st quarter. First Eagle Investment Management LLC now owns 7,720 shares of the semiconductor company’s stock worth $568,000 after purchasing an additional 500 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Onsemi by 24.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 53,002 shares of the semiconductor company’s stock worth $3,898,000 after purchasing an additional 10,357 shares during the last quarter. Finally, Great Lakes Retirement Inc. lifted its position in shares of Onsemi by 17.1% during the 1st quarter. Great Lakes Retirement Inc. now owns 3,109 shares of the semiconductor company’s stock worth $229,000 after purchasing an additional 454 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Down 2.1 %

NASDAQ:ON opened at $67.02 on Friday. The stock’s fifty day moving average price is $70.49 and its two-hundred day moving average price is $71.90. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. 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 company has a market cap of $28.54 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 7.53 and a beta of 1.65.

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

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Roth Mkm boosted their price target on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Truist Financial lowered their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, BNP Paribas lowered their price target on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.