Jennison Associates LLC Cuts Stake in Onsemi (NASDAQ:ON)

Jennison Associates LLC lowered its position in Onsemi (NASDAQ:ONFree Report) by 61.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,478 shares of the semiconductor company’s stock after selling 127,488 shares during the quarter. Jennison Associates LLC’s holdings in Onsemi were worth $5,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi in the fourth quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi in the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi in the fourth quarter valued at approximately $33,000. Westside Investment Management Inc. lifted its position 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. Finally, Headinvest LLC bought a new stake in Onsemi in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company decreased their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. Stifel Nicolaus decreased their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, B. Riley restated a “buy” rating and set a $103.00 target price (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $90.08.

View Our Latest Stock Report on ON

Onsemi Trading Down 2.0 %

NASDAQ ON opened at $73.48 on Wednesday. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The stock has a market cap of $31.61 billion, a P/E ratio of 15.00, a P/E/G ratio of 3.42 and a beta of 1.69. The stock’s fifty day moving average price is $71.82 and its 200-day moving average price is $73.76. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ONGet Free Report) last released its earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities analysts forecast that Onsemi will post 3.83 EPS for the current fiscal year.

Insider Activity at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Onsemi Profile

(Free Report)

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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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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