United Services Automobile Association Has $748,000 Stake in Onsemi (NASDAQ:ON)

United Services Automobile Association reduced its stake in shares of Onsemi (NASDAQ:ON) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,303 shares of the semiconductor company’s stock after selling 1,592 shares during the quarter. United Services Automobile Association’s holdings in Onsemi were worth $748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Onsemi in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in Onsemi in the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. boosted its stake in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Onsemi during the 2nd quarter worth $43,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi during the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 4,500 shares of company stock valued at $321,765. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on ON shares. Needham & Company LLC restated a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research report on Tuesday, November 19th. Robert W. Baird raised their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Loop Capital began coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company started coverage on shares of Onsemi in a research note on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective on the stock. Finally, Mizuho set a $85.00 target price on shares of Onsemi in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Price Performance

Shares of NASDAQ ON opened at $66.52 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The business has a 50-day moving average of $69.89 and a 200-day moving average of $71.56. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 7.07 and a beta of 1.63. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77.

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. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the company earned $1.39 earnings per share. The business’s revenue was down 19.2% compared to the same quarter last year. As a group, sell-side analysts predict that Onsemi will post 4 earnings per share for the current fiscal year.

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.