Onsemi (NASDAQ:ON) Holdings Lowered by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its stake in Onsemi (NASDAQ:ON) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 56,881 shares of the semiconductor company’s stock after selling 622 shares during the period. Penserra Capital Management LLC’s holdings in Onsemi were worth $4,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Investment Partners LLC increased its position in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. Greenleaf Trust grew its position in Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 173 shares in the last quarter. Meridian Financial Partners LLC raised its stake in Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Onsemi by 4.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ON. BNP Paribas dropped their price target on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Wells Fargo & Company began coverage on Onsemi in a report on Friday. They issued an “overweight” rating and a $85.00 target price on the stock. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Truist Financial dropped their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Trading Up 1.7 %

Shares of NASDAQ:ON opened at $69.62 on Monday. 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 stock’s 50-day moving average is $70.21 and its 200-day moving average is $71.80. The company has a market cap of $29.64 billion, a P/E ratio of 17.28, a P/E/G ratio of 7.47 and a beta of 1.65. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77.

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

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

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.