Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Onsemi (NASDAQ:ON)

Sumitomo Mitsui Trust Group Inc. grew its stake in Onsemi (NASDAQ:ON) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,098,616 shares of the semiconductor company’s stock after purchasing an additional 36,793 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Onsemi were worth $69,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Greenleaf Trust increased its holdings in shares of 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 buying an additional 173 shares during the last quarter. Meridian Financial Partners LLC grew its position in Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 192 shares during the period. Dynamic Advisor Solutions LLC increased its stake in Onsemi by 4.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 206 shares during the last quarter. Sentry Investment Management LLC lifted its stake in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 209 shares during the last quarter. Finally, CX Institutional grew its holdings in shares of Onsemi by 5.2% during the 3rd quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON stock opened at $51.25 on Monday. The company has a market cap of $21.82 billion, a P/E ratio of 12.72, a PEG ratio of 10.27 and a beta of 1.61. The firm has a fifty day moving average price of $60.60 and a 200 day moving average price of $67.49. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 12 month low of $49.80 and a 12 month high of $85.16.

Analyst Upgrades and Downgrades

ON has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Friday. UBS Group dropped their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Truist Financial restated a “hold” rating and set a $60.00 price target (down from $85.00) on shares of Onsemi in a research note on Friday, January 10th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

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.