Allstate Corp Increases Stock Holdings in onsemi $ON

Key Points

• Allstate Corp boosted its stake in onsemi by 89% in the fourth quarter, ending with 28,136 shares valued at about $1.52 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 97.7% of onsemi’s stock, while several firms also increased positions.
• onsemi reported better-than-expected quarterly results, topping EPS and revenue estimates, and gave Q2 guidance calling for continued growth.

Allstate Corp raised its position in onsemi (NASDAQ:ON - Free Report) by 89.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,136 shares of the semiconductor company's stock after purchasing an additional 13,250 shares during the period. Allstate Corp's holdings in onsemi were worth $1,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in shares of onsemi by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company's stock worth $639,716,000 after acquiring an additional 877,533 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of onsemi by 8.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,363,805 shares of the semiconductor company's stock worth $360,828,000 after purchasing an additional 474,725 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of onsemi by 55.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company's stock worth $305,943,000 after purchasing an additional 2,072,125 shares during the last quarter. Capital International Investors increased its position in shares of onsemi by 0.5% during the 3rd quarter. Capital International Investors now owns 4,249,967 shares of the semiconductor company's stock worth $209,566,000 after purchasing an additional 22,699 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of onsemi by 38.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,981,981 shares of the semiconductor company's stock worth $215,624,000 after purchasing an additional 1,112,774 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Insider Buying and Selling at onsemi

In other news, CFO Trent Thad sold 30,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $93.00, for a total value of $2,790,000.00. Following the completion of the sale, the chief financial officer owned 301,194 shares in the company, valued at approximately $28,011,042. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sudhir Gopalswamy sold 6,114 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.67, for a total value of $358,708.38. Following the transaction, the insider directly owned 173,943 shares in the company, valued at approximately $10,205,235.81. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 66,114 shares of company stock worth $5,548,708 over the last 90 days. Company insiders own 0.35% of the company's stock.

onsemi Price Performance

ON stock opened at $120.62 on Friday. The company has a quick ratio of 3.14, a current ratio of 4.87 and a debt-to-equity ratio of 0.41. onsemi has a fifty-two week low of $41.49 and a fifty-two week high of $129.13. The business has a 50 day moving average price of $88.44 and a 200 day moving average price of $69.03. The stock has a market cap of $47.27 billion, a price-to-earnings ratio of 85.55, a PEG ratio of 1.10 and a beta of 1.94.

onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 4th. The semiconductor company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.49 billion. onsemi had a return on equity of 12.79% and a net margin of 9.46%.The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. onsemi has set its Q2 2026 guidance at 0.650-0.770 EPS. Equities research analysts anticipate that onsemi will post 3.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ON. Morgan Stanley raised their price objective on onsemi from $85.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Piper Sandler lifted their target price on onsemi from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Zacks Research raised onsemi from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. Citigroup lifted their target price on onsemi from $68.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, Craig Hallum reaffirmed a "hold" rating on shares of onsemi in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, onsemi has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Recent analyst coverage has stayed constructive, with Mizuho raising its price target on onsemi to $150 and maintaining an outperform rating, implying meaningful upside from current levels.
• Positive Sentiment: Several recent articles highlighted onsemi as a potential beneficiary of the AI and power-management semiconductor cycle, with commentary pointing to improving gross margins and stronger utilization from its Fab Right strategy.
• Positive Sentiment: A new leveraged ETF launch tied to onsemi also signals rising trading interest and broader speculation around the name.
• Neutral Sentiment: Onsemi’s latest earnings were solid, with revenue and EPS both slightly ahead of expectations and Q2 guidance calling for continued growth, but the report is not fresh enough to be the day’s main stock-moving event.
• Neutral Sentiment: A short-interest update showed essentially no meaningful short interest, so the move does not appear to be driven by a squeeze or bearish positioning change.
• Neutral Sentiment: Recent stock commentary from third-party outlets has been largely thematic, focusing on AI semiconductor demand rather than a new fundamental development at onsemi.

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.