Onsemi (NASDAQ:ON) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its position in Onsemi (NASDAQ:ON - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 504,472 shares of the semiconductor company's stock after selling 25,070 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.12% of Onsemi worth $42,139,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Onsemi by 26.0% during the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company's stock valued at $540,306,000 after acquiring an additional 1,200,723 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Onsemi by 55.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company's stock worth $195,124,000 after buying an additional 828,944 shares during the period. Ameriprise Financial Inc. increased its holdings in Onsemi by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company's stock worth $397,108,000 after buying an additional 817,237 shares during the period. Dimensional Fund Advisors LP boosted its position in Onsemi by 25.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company's stock worth $268,835,000 after purchasing an additional 645,969 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Onsemi by 20.3% in the 4th quarter. Van ECK Associates Corp now owns 2,040,468 shares of the semiconductor company's stock worth $170,441,000 after purchasing an additional 344,970 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ON has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Onsemi from $82.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 18th. Truist Financial decreased their target price on Onsemi from $89.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 30th. Evercore ISI initiated coverage on Onsemi in a research report on Tuesday, April 16th. They set an "outperform" rating and a $104.00 target price on the stock. Benchmark decreased their target price on Onsemi from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, April 30th. Finally, Roth Mkm increased their target price on Onsemi from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $90.28.

Insider Buying and Selling

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business's stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Onsemi Stock Up 0.2 %

Shares of ON traded up $0.17 during midday trading on Friday, hitting $73.17. The company had a trading volume of 3,844,341 shares, compared to its average volume of 7,516,913. The company's 50-day simple moving average is $70.98 and its 200-day simple moving average is $74.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The firm has a market capitalization of $31.48 billion, a P/E ratio of 14.93, a P/E/G ratio of 3.31 and a beta of 1.78. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. As a group, sell-side analysts expect that Onsemi will post 3.85 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.