California State Teachers Retirement System Sells 6,157 Shares of onsemi (NASDAQ:ON)

California State Teachers Retirement System lowered its stake in onsemi (NASDAQ:ON – Get Rating) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 710,378 shares of the semiconductor company’s stock after selling 6,157 shares during the quarter. California State Teachers Retirement System’s holdings in onsemi were worth $44,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Bradley & Co. Private Wealth Management LLC bought a new stake in onsemi in the 3rd quarter valued at $30,000. GHP Investment Advisors Inc. purchased a new stake in onsemi in the 2nd quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of onsemi in the 3rd quarter worth approximately $41,000. CoreCap Advisors LLC purchased a new stake in shares of onsemi in the 2nd quarter worth approximately $49,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of onsemi in the 3rd quarter worth approximately $68,000. Hedge funds and other institutional investors own 96.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ON. Cowen upped their price target on shares of onsemi from $81.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. Truist Financial increased their price objective on shares of onsemi from $83.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. Bank of America raised their price objective on shares of onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Morgan Stanley raised their price objective on shares of onsemi from $70.40 to $89.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 7th. Finally, Mizuho lifted their price target on shares of onsemi from $72.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.84.

onsemi Stock Performance

Shares of ON opened at $78.28 on Friday. The business’s fifty day moving average price is $76.01 and its 200 day moving average price is $69.92. onsemi has a 12-month low of $44.76 and a 12-month high of $87.55. The stock has a market capitalization of $33.81 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 5.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.78 and a quick ratio of 2.00.

onsemi (NASDAQ:ON – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. onsemi had a return on equity of 42.09% and a net margin of 22.85%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts forecast that onsemi will post 4.42 EPS for the current year.

onsemi declared that its Board of Directors has approved a share repurchase plan on Monday, February 6th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other onsemi news, CEO Hassane El-Khoury sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $79.18, for a total value of $395,900.00. Following the sale, the chief executive officer now directly owns 606,212 shares in the company, valued at $47,999,866.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other onsemi news, CEO Hassane El-Khoury sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $79.18, for a total value of $395,900.00. Following the sale, the chief executive officer now directly owns 606,212 shares in the company, valued at $47,999,866.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Simon Keeton sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $80.00, for a total value of $320,000.00. Following the completion of the sale, the executive vice president now owns 209,781 shares in the company, valued at $16,782,480. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

onsemi Company Profile

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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.