Onsemi (NASDAQ:ON) Stock Position Lowered by ING Groep NV

ING Groep NV lessened its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 71.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,194 shares of the semiconductor company's stock after selling 154,715 shares during the quarter. ING Groep NV's holdings in Onsemi were worth $4,516,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ON. Capital Performance Advisors LLP acquired a new position in Onsemi during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Onsemi during the 3rd quarter worth $33,000. GHP Investment Advisors Inc. raised its position in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company's stock worth $38,000 after buying an additional 514 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Onsemi during the second quarter valued at about $43,000. Institutional investors and hedge funds own 97.70% of the company's stock.

Analyst Ratings Changes

ON has been the topic of a number of recent research reports. TD Cowen reduced their price target on shares of Onsemi from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Onsemi from $85.00 to $88.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Onsemi from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Finally, Truist Financial decreased their price target on Onsemi from $97.00 to $89.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.30.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred 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 transaction, the chief executive officer now owns 840,620 shares of the company's stock, valued at $59,515,896. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Onsemi Stock Performance

ON stock traded down $2.26 during mid-day trading on Friday, reaching $64.76. The company had a trading volume of 6,231,111 shares, compared to its average volume of 6,744,088. The stock's 50-day simple moving average is $70.43 and its two-hundred day simple moving average is $71.86. The stock has a market capitalization of $27.57 billion, a P/E ratio of 16.07, a P/E/G ratio of 7.34 and a beta of 1.65. 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 one year low of $59.34 and a one year high of $86.77.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.75 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The business's revenue for the quarter was down 19.2% compared to the same quarter last year. Research analysts anticipate that Onsemi will post 4 EPS 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.