Edgestream Partners L.P. Reduces Stake in onsemi $ON

Key Points

• Edgestream Partners L.P. cut its onsemi stake by 73.9% in the first quarter, selling 50,798 shares and retaining 17,953 shares valued at approximately $1.1 million.
• Other institutional investors generally increased their holdings, and hedge funds and other institutions collectively own 97.7% of onsemi’s stock.
• onsemi recently exceeded second-quarter earnings and revenue expectations, with revenue up 9.2% year over year, while management issued favorable third-quarter guidance and cited stronger AI-related demand. Analysts nonetheless maintain an overall “Hold” rating, with an average price target of $102.24.

Edgestream Partners L.P. lowered its stake in onsemi (NASDAQ:ON - Free Report) by 73.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,953 shares of the semiconductor company's stock after selling 50,798 shares during the quarter. Edgestream Partners L.P.'s holdings in onsemi were worth $1,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of onsemi by 10.9% during the first quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company's stock valued at $848,392,000 after buying an additional 1,345,894 shares during the period. Empowered Funds LLC boosted its position in shares of onsemi by 814.1% in the first quarter. Empowered Funds LLC now owns 240,614 shares of the semiconductor company's stock valued at $14,899,000 after acquiring an additional 214,292 shares during the period. Quantinno Capital Management LP grew its stake in onsemi by 13.3% during the first quarter. Quantinno Capital Management LP now owns 788,484 shares of the semiconductor company's stock valued at $48,823,000 after acquiring an additional 92,309 shares in the last quarter. Delta Global Management LP purchased a new position in onsemi during the first quarter valued at approximately $7,198,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in onsemi by 97.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 30,402 shares of the semiconductor company's stock worth $1,882,000 after acquiring an additional 14,983 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi exceeded Q2 expectations: Revenue rose 9% year over year to $1.604 billion, topping the $1.59 billion consensus estimate, while non-GAAP EPS of $0.74 beat estimates of roughly $0.71–$0.72. GAAP EPS was $0.56, compared with $0.53 a year earlier. ON Semiconductor Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: Profitability and cash generation improved sharply. Non-GAAP gross margin reached 39.3% and operating margin 20.8%. Operating cash flow increased 150%, free cash flow quadrupled to $425.4 million, and onsemi repurchased $332 million of stock during the quarter. onsemi Reports Second Quarter 2026 Results
• Positive Sentiment: AI is becoming a more important growth driver. Management said demand is strengthening across AI-powered applications and expects AI data-center revenue to more than double this year. The company also highlighted growing adoption of its Treo and high-voltage power solutions, while its third-quarter revenue midpoint of approximately $1.70 billion was reported as above analyst expectations. onsemi Rises on Solid Earnings Beat as AI Data Center Revenue Grows
• Neutral Sentiment: Forward guidance remains favorable but not risk-free. onsemi forecast third-quarter GAAP EPS of $0.79–$0.91, or adjusted EPS of $0.81–$0.93, with revenue of $1.65–$1.75 billion. Investors will continue watching automotive demand, inventory normalization and the company’s planned Synaptics acquisition.
• Negative Sentiment: Insider selling is a potential overhang. Company data show executives, including the CFO and CEO, have reported stock sales and no open-market purchases during the past six months. This does not necessarily indicate deteriorating fundamentals, but it may temper enthusiasm following the earnings-driven advance. onsemi Q2 Revenue Rises 9 Percent

Analyst Upgrades and Downgrades

Several analysts have issued reports on ON shares. Morgan Stanley increased their target price on shares of onsemi from $85.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. Rosenblatt Securities upped their price target on shares of onsemi from $60.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Stifel Nicolaus increased their price objective on onsemi from $90.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, June 24th. Truist Financial reissued a "hold" rating and set a $101.00 price objective (up from $66.00) on shares of onsemi in a research note on Tuesday, May 5th. Finally, B. Riley Financial boosted their target price on onsemi from $118.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Fourteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, onsemi presently has an average rating of "Hold" and an average price target of $102.24.

onsemi Trading Down 1.5%

Shares of ON opened at $80.40 on Tuesday. The stock has a market capitalization of $31.51 billion, a P/E ratio of 57.02, a PEG ratio of 0.90 and a beta of 2.03. onsemi has a twelve month low of $44.56 and a twelve month high of $134.92. The company has a quick ratio of 3.14, a current ratio of 4.87 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $104.28 and a two-hundred day simple moving average of $85.07.

onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.59 billion. onsemi had a net margin of 9.46% and a return on equity of 12.79%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. On average, research analysts anticipate that onsemi will post 3.09 EPS 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. 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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