Kentucky Retirement Systems Sells 2,007 Shares of Onsemi (NASDAQ:ON)

Kentucky Retirement Systems cut its position in Onsemi (NASDAQ:ON) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,453 shares of the semiconductor company’s stock after selling 2,007 shares during the quarter. Kentucky Retirement Systems’ holdings in Onsemi were worth $2,387,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Integrated Advisors Network LLC raised its position in shares of Onsemi by 1.7% during the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after acquiring an additional 164 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after purchasing an additional 177 shares during the last quarter. STF Management LP increased its position in shares of Onsemi by 2.5% during the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after buying an additional 178 shares during the period. Covestor Ltd raised its stake in Onsemi by 24.5% during the first 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. Finally, Quent Capital LLC lifted its holdings in Onsemi by 25.3% in the fourth quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 198 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were 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 of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were 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 directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Rosenblatt Securities reduced their price target on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Onsemi in a research report on Thursday, June 13th. Finally, TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Onsemi Stock Performance

Onsemi stock traded up $8.38 during trading on Monday, hitting $78.55. The stock had a trading volume of 10,518,354 shares, compared to its average volume of 6,822,002. The stock’s 50 day moving average is $72.55 and its two-hundred day moving average is $73.16. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The stock has a market cap of $33.79 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. As a group, analysts predict that Onsemi will post 4.02 EPS for the current year.

Onsemi 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.