Global X Japan Co. Ltd. Sells 8,764 Shares of Onsemi (NASDAQ:ON)

Global X Japan Co. Ltd. lessened its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,296 shares of the semiconductor company's stock after selling 8,764 shares during the quarter. Global X Japan Co. Ltd.'s holdings in Onsemi were worth $2,999,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mediolanum International Funds Ltd acquired a new stake in Onsemi during the 1st quarter valued at $2,447,000. Assenagon Asset Management S.A. increased its stake in shares of Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company's stock worth $6,945,000 after purchasing an additional 88,496 shares during the period. Norden Group LLC acquired a new stake in Onsemi during the 1st quarter worth approximately $774,000. Axxcess Wealth Management LLC bought a new stake in Onsemi in the 1st quarter valued at $808,000. Finally, Meeder Asset Management Inc. grew its holdings in Onsemi by 42.9% in the 1st quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company's stock valued at $1,914,000 after buying an additional 7,820 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ON has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Onsemi from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Citigroup downgraded shares of Onsemi from a "buy" rating to a "neutral" rating and cut their price objective for the company from $85.00 to $77.00 in a report on Monday, July 15th. Morgan Stanley cut shares of Onsemi from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Bank of America boosted their price target on Onsemi from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut Onsemi from a "hold" rating to a "sell" rating in a report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $85.74.

Insider Buying and Selling at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred 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 of the company's stock, valued at $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated 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 transaction, the chief executive officer now directly owns 839,210 shares of the company's stock, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Simon Keeton sold 30,939 shares of the company's stock in a transaction dated 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 sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,939 shares of company stock worth $2,626,651. Insiders own 0.31% of the company's stock.

Onsemi Stock Down 0.9 %

NASDAQ:ON opened at $66.54 on Wednesday. Onsemi has a one year low of $59.34 and a one year high of $86.77. 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 company has a market cap of $28.50 billion, a PE ratio of 15.16, a P/E/G ratio of 3.67 and a beta of 1.65. The firm's 50 day simple moving average is $71.90 and its 200 day simple moving average is $71.41.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. Onsemi's revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, research analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Onsemi Company 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.

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