ING Groep NV Reduces Stock Holdings in Onsemi (NASDAQ:ON)

ING Groep NV reduced its holdings in shares of Onsemi (NASDAQ:ON) by 96.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,121 shares of the semiconductor company’s stock after selling 178,381 shares during the quarter. ING Groep NV’s holdings in Onsemi were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Onsemi by 26.0% in 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 during the last quarter. Ameriprise Financial Inc. boosted its holdings in Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after acquiring an additional 817,237 shares during the last quarter. Northern Trust Corp boosted its holdings in Onsemi by 4.3% in the third quarter. Northern Trust Corp now owns 4,117,862 shares of the semiconductor company’s stock valued at $382,755,000 after acquiring an additional 171,432 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Onsemi by 25.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after acquiring an additional 645,969 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in Onsemi by 2.7% in the third quarter. Alphinity Investment Management Pty Ltd now owns 2,845,345 shares of the semiconductor company’s stock valued at $264,475,000 after purchasing an additional 75,730 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

Onsemi Stock Up 4.8 %

ON stock opened at $76.29 on Thursday. The company has a 50-day moving average of $70.57 and a two-hundred day moving average of $74.21. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 3.32 and a beta of 1.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. As a group, equities research analysts anticipate that Onsemi will post 3.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley decreased their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company decreased their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Mizuho decreased their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Truist Financial dropped their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.28.

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.