onsemi $ON Stock: M&G PLC Decreases Position

M&G PLC cut its holdings in shares of onsemi (NASDAQ:ON - Free Report) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,867,090 shares of the semiconductor company's stock after selling 43,401 shares during the quarter. M&G PLC owned about 0.48% of onsemi worth $143,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ON. Janus Henderson Group PLC boosted its stake in onsemi by 10.9% during the first quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company's stock worth $848,392,000 after buying an additional 1,345,894 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of onsemi by 16.6% in the 2nd quarter. Van ECK Associates Corp now owns 5,143,343 shares of the semiconductor company's stock valued at $486,252,000 after buying an additional 731,540 shares during the period. Pictet Asset Management Holding SA grew its position in onsemi by 7.4% in the third quarter. Pictet Asset Management Holding SA now owns 4,550,913 shares of the semiconductor company's stock worth $349,788,000 after acquiring an additional 314,203 shares during the period. Dimensional Fund Advisors LP increased its stake in onsemi by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,442,177 shares of the semiconductor company's stock worth $212,997,000 after acquiring an additional 207,587 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in onsemi by 8.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,334,491 shares of the semiconductor company's stock valued at $267,026,000 after buying an additional 268,267 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other onsemi news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the transaction, the insider owned 158,177 shares of the company's stock, valued at $12,654,160. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is currently owned by company insiders.

onsemi Stock Up 9.2%

ON stock opened at $69.11 on Tuesday. The stock has a market cap of $26.90 billion, a P/E ratio of 40.18, a PEG ratio of 0.57 and a beta of 2.11. The company has a current ratio of 3.55, a quick ratio of 2.49 and a debt-to-equity ratio of 0.49. onsemi has a twelve month low of $44.56 and a twelve month high of $134.92. The company's 50 day moving average is $74.15 and its two-hundred day moving average is $82.19.

onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. onsemi had a net margin of 10.82% and a return on equity of 15.53%. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts expect that onsemi will post 3.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ON. Robert W. Baird lifted their target price on shares of onsemi from $100.00 to $108.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Stonex Financial upgraded onsemi to a "strong-buy" rating in a report on Wednesday, October 14th. Stifel Nicolaus boosted their price target on shares of onsemi from $75.00 to $80.00 and gave the stock a "hold" rating in a research note on Monday, October 5th. Evercore reduced their target price on shares of onsemi from $137.00 to $90.00 in a report on Monday, November 2nd. Finally, The Goldman Sachs Group decreased their target price on onsemi from $95.00 to $85.00 in a report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, onsemi presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.03.

More onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi was among semiconductor names reported to have rallied, providing a sector-wide tailwind for the stock. The article does not specify a company-specific catalyst for the move. Article: Semiconductor and technology shares rally
• Neutral Sentiment: Vadzo Imaging announced camera products using onsemi image sensors, including a 4K camera with the AR1335 sensor and UAV and GigE/Wi-Fi cameras featuring other onsemi sensors. These applications may highlight product adoption, but the announcements disclose no sales, orders, or financial contribution. Article: Vadzo launches camera using onsemi sensor

onsemi Company 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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