AXQ Capital LP Trims Stake in onsemi $ON

Key Points

• AXQ Capital LP cut its onsemi stake sharply in the fourth quarter, reducing holdings by 70.2% to 6,976 shares worth about $378,000.
• Institutional ownership remains very high, with several large funds boosting or adding to positions and institutions collectively owning 97.70% of onsemi shares.
• Analyst sentiment has improved after onsemi beat earnings and revenue estimates; multiple firms raised price targets, and the stock now carries a “Moderate Buy” consensus with an average target of $92.

AXQ Capital LP lessened its holdings in shares of onsemi (NASDAQ:ON - Free Report) by 70.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,976 shares of the semiconductor company's stock after selling 16,424 shares during the quarter. AXQ Capital LP's holdings in onsemi were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ON. Ameriprise Financial Inc. grew its holdings in onsemi by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company's stock valued at $639,716,000 after purchasing an additional 877,533 shares during the period. Allspring Global Investments Holdings LLC grew its stake in onsemi by 8.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,363,805 shares of the semiconductor company's stock valued at $360,828,000 after acquiring an additional 474,725 shares in the last quarter. Norges Bank bought a new stake in shares of onsemi in the fourth quarter worth about $330,885,000. Rafferty Asset Management LLC boosted its stake in onsemi by 55.0% during the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company's stock valued at $305,943,000 after buying an additional 2,072,125 shares during the last quarter. Finally, Capital International Investors boosted its stake in onsemi by 0.5% during the third quarter. Capital International Investors now owns 4,249,967 shares of the semiconductor company's stock valued at $209,566,000 after buying an additional 22,699 shares during the last quarter. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

ON has been the topic of a number of recent research reports. Barclays upped their price target on shares of onsemi from $75.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Cantor Fitzgerald raised their price target on onsemi from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 13th. Mizuho raised their price target on shares of onsemi from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Jefferies Financial Group lifted their price objective on shares of onsemi from $73.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Craig Hallum reissued a "hold" rating on shares of onsemi in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, onsemi currently has an average rating of "Moderate Buy" and an average price target of $92.00.

Insider Buying and Selling at onsemi

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

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s latest earnings beat expectations, with revenue and EPS topping estimates, which reinforced confidence in the company’s near-term operating momentum.
• Positive Sentiment: Recent coverage highlighted onsemi as a beneficiary of rising demand for power and analog chips used in AI infrastructure, EVs, and industrial automation, keeping the stock in a favorable narrative.Article Title
• Neutral Sentiment: The company also drew attention from traders after leveraged 2x ETFs linked to ON Semiconductor launched, which can increase short-term trading interest but does not change fundamentals directly.Article Title

onsemi Price Performance

NASDAQ ON opened at $131.82 on Friday. The company has a current ratio of 4.87, a quick ratio of 3.14 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $51.66 billion, a P/E ratio of 93.49, a P/E/G ratio of 1.19 and a beta of 1.97. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The firm's fifty day simple moving average is $93.93 and its two-hundred day simple moving average is $71.44.

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

onsemi 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. 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.

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