Empowered Funds LLC Decreases Holdings in Onsemi (NASDAQ:ON)

Empowered Funds LLC decreased its position in Onsemi (NASDAQ:ON - Free Report) by 68.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,342 shares of the semiconductor company's stock after selling 90,439 shares during the period. Empowered Funds LLC's holdings in Onsemi were worth $3,002,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company's stock valued at $289,088,000 after purchasing an additional 665,633 shares in the last quarter. Capital International Investors boosted its holdings in Onsemi by 1.0% in the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company's stock worth $302,070,000 after buying an additional 42,117 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company's stock worth $237,559,000 after buying an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company's stock worth $215,518,000 after buying an additional 380,471 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Onsemi by 6.7% during the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company's stock valued at $190,939,000 after acquiring an additional 161,987 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company's stock.

Onsemi Stock Up 0.3 %

Onsemi stock traded up $0.17 during mid-day trading on Tuesday, hitting $66.65. The company had a trading volume of 5,745,626 shares, compared to its average volume of 6,737,975. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The business has a fifty day moving average of $70.34 and a 200 day moving average of $71.84. The stock has a market cap of $28.38 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 6.94 and a beta of 1.65.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the company posted $1.39 earnings per share. The business's quarterly revenue was down 19.2% compared to the same quarter last year. On average, sell-side analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ON. JPMorgan Chase & Co. boosted their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted 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. Loop Capital began coverage on Onsemi in a report on Monday, November 11th. They issued a "buy" rating and a $95.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday. Finally, StockNews.com raised Onsemi from a "sell" rating to a "hold" rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.30.

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.