Allspring Global Investments Holdings LLC Grows Stock Holdings in Onsemi (NASDAQ:ON)

Allspring Global Investments Holdings LLC grew its position in Onsemi (NASDAQ:ON - Free Report) by 14.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,968,160 shares of the semiconductor company's stock after purchasing an additional 380,471 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.69% of Onsemi worth $215,518,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Onsemi in the first quarter worth about $45,000. Massmutual Trust Co. FSB ADV grew its holdings in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC purchased a new position in Onsemi during the second quarter valued at approximately $43,000. Finally, Oakworth Capital Inc. acquired a new position in Onsemi in the second quarter valued at approximately $53,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Down 1.1 %

Shares of NASDAQ ON traded down $0.75 during midday trading on Friday, reaching $68.49. 5,202,408 shares of the stock were exchanged, compared to its average volume of 5,111,421. The stock has a market capitalization of $29.34 billion, a P/E ratio of 15.60, a PEG ratio of 3.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The company has a 50 day simple moving average of $72.09 and a 200 day simple moving average of $71.43. Onsemi has a twelve month low of $59.34 and a twelve month high of $90.09.

Onsemi (NASDAQ:ON - Get Free Report) last posted its 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. The company 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 quarter in the previous year, the business earned $1.33 earnings per share. As a group, equities analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ON. Truist Financial upped their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Mizuho set a $85.00 price objective on Onsemi in a report on Friday. Rosenblatt Securities increased their target price on Onsemi from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Bank of America boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Finally, TD Cowen lifted their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $85.74.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Keeton sold 30,939 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares of the company's stock, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,939 shares of company stock valued at $2,626,651 over the last 90 days. 0.31% of the stock is owned by company insiders.

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.