LMR Partners LLP Sells 34,778,134 Shares of Onsemi (NASDAQ:ON)

LMR Partners LLP trimmed its stake in Onsemi (NASDAQ:ON - Free Report) by 99.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,000 shares of the semiconductor company's stock after selling 34,778,134 shares during the period. LMR Partners LLP owned approximately 0.05% of Onsemi worth $16,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Swedbank AB bought a new position in shares of Onsemi during the 1st quarter valued at about $90,274,000. American Century Companies Inc. raised its stake in shares of Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company's stock worth $76,167,000 after acquiring an additional 909,558 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company's stock valued at $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Onsemi by 18.7% during the 2nd 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 during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company's stock worth $98,743,000 after purchasing an additional 574,900 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ON. Loop Capital assumed coverage on Onsemi in a report on Monday, November 11th. They issued a "buy" rating and a $95.00 price objective on the stock. Rosenblatt Securities reissued a "neutral" rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Robert W. Baird lifted their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Roth Mkm increased their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Finally, BNP Paribas decreased their price objective on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.30.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This 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 1.5 %

ON stock traded up $0.99 on Monday, reaching $65.75. 2,514,401 shares of the company traded hands, compared to its average volume of 6,725,129. The firm has a fifty day simple moving average of $70.43 and a 200-day simple moving average of $71.89. The company has a market cap of $28.00 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 6.94 and a beta of 1.65. 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 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company's revenue was down 19.2% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. Research analysts anticipate that Onsemi will post 4 earnings per share for the current year.

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.