Onsemi (NASDAQ:ON) Insider Sells $2,411,385.66 in Stock

Onsemi (NASDAQ:ON) insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a filing with the SEC, which is available at this link.

Onsemi Stock Performance

ON stock opened at $67.95 on Monday. The stock’s 50 day simple moving average is $72.60 and its 200 day simple moving average is $73.18. Onsemi has a 12-month low of $59.34 and a 12-month high of $104.87. The firm has a market cap of $29.23 billion, a P/E ratio of 13.87, a P/E/G ratio of 3.12 and a beta of 1.69. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was down 17.2% compared to the same quarter last year. As a group, equities research analysts predict that Onsemi will post 4.01 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen upped their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial increased their price objective on shares of Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price on the stock. Rosenblatt Securities raised their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Mizuho dropped their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.61.

Hedge Funds Weigh In On Onsemi

Large investors have recently bought and sold shares of the business. Oak Thistle LLC acquired a new position in shares of Onsemi during the fourth quarter valued at $516,000. KG&L Capital Management LLC acquired a new position in Onsemi during the 4th quarter valued at about $390,000. KRS Capital Management LLC grew its position in Onsemi by 6.7% in the 4th quarter. KRS Capital Management LLC now owns 8,390 shares of the semiconductor company’s stock worth $701,000 after purchasing an additional 525 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 82,301 shares during the period. Finally, Capital Insight Partners LLC raised its holdings in shares of Onsemi by 8.5% during the fourth quarter. Capital Insight Partners LLC now owns 52,649 shares of the semiconductor company’s stock valued at $4,398,000 after buying an additional 4,142 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

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.