STF Management LP Sells 390 Shares of Onsemi (NASDAQ:ON)

STF Management LP trimmed its stake in shares of Onsemi (NASDAQ:ON) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,804 shares of the semiconductor company’s stock after selling 390 shares during the quarter. STF Management LP’s holdings in Onsemi were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ON. Avantax Advisory Services Inc. raised its stake in shares of Onsemi by 2.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,539 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 213 shares during the period. Quadrant Capital Group LLC increased its stake in Onsemi by 52.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,119 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 729 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Onsemi in the 4th quarter worth about $278,000. Brown Advisory Inc. increased its stake in Onsemi by 56.2% in the 4th quarter. Brown Advisory Inc. now owns 6,170 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 2,220 shares during the last quarter. Finally, Norges Bank bought a new position in Onsemi in the 4th quarter worth about $418,102,000. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. KeyCorp decreased their target price on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley cut Onsemi from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $70.00 to $65.00 in a report on Thursday, July 11th. Rosenblatt Securities increased their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Truist Financial increased their target price on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onsemi currently has a consensus rating of “Hold” and an average price target of $85.61.

Onsemi Stock Performance

ON stock opened at $70.37 on Tuesday. The company has a market cap of $30.14 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66. Onsemi has a 1 year low of $59.34 and a 1 year high of $95.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The stock’s fifty day moving average price is $73.27 and its 200-day moving average price is $72.41.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. On average, equities analysts forecast that Onsemi will post 4.01 earnings per share for the current year.

Insider Transactions at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.31% 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.