Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of onsemi (NASDAQ:ON – Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 867,205 shares of the semiconductor company’s stock after selling 64,774 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in onsemi were worth $53,697,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA raised its holdings in onsemi by 38.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,981,981 shares of the semiconductor company’s stock valued at $215,624,000 after buying an additional 1,112,774 shares during the period. Twin Capital Management Inc. purchased a new position in onsemi during the fourth quarter worth about $585,000. Carmel Capital Partners LLC increased its position in shares of onsemi by 119.3% during the fourth quarter. Carmel Capital Partners LLC now owns 73,416 shares of the semiconductor company’s stock valued at $3,975,000 after acquiring an additional 39,944 shares during the last quarter. F&V Capital Management LLC acquired a new stake in shares of onsemi during the fourth quarter valued at about $15,075,000. Finally, Brevan Howard Capital Management LP raised its stake in shares of onsemi by 95.5% in the 3rd quarter. Brevan Howard Capital Management LP now owns 111,749 shares of the semiconductor company’s stock valued at $5,510,000 after acquiring an additional 54,574 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.
onsemi Stock Down 2.0%
NASDAQ:ON traded down $1.91 during midday trading on Friday, reaching $95.96. The company had a trading volume of 6,035,404 shares, compared to its average volume of 13,406,922. The firm has a market capitalization of $37.61 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 0.85 and a beta of 2.01. The stock’s fifty day simple moving average is $111.13 and its 200-day simple moving average is $81.51. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The company has a current ratio of 4.87, a quick ratio of 3.14 and a debt-to-equity ratio of 0.41.
Insider Activity at onsemi
In other news, CFO Trent Thad sold 30,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $93.00, for a total transaction of $2,790,000.00. Following the completion of the transaction, the chief financial officer directly owned 301,194 shares of the company’s stock, valued at approximately $28,011,042. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on ON. Rosenblatt Securities increased their price objective on shares of onsemi from $60.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their target price on onsemi from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. upped their price target on onsemi from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Cantor Fitzgerald raised their price target on onsemi from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, June 29th. Finally, Roth Capital reaffirmed a “buy” rating on shares of onsemi in a research note on Tuesday, May 5th. Thirteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $103.24.
Get Our Latest Research Report on onsemi
More onsemi News
Here are the key news stories impacting onsemi this week:
- Positive Sentiment: Bank of America said onsemi’s planned Synaptics acquisition could create long-term strategic synergies, adding complementary compute assets to onsemi’s power, sensing and control businesses and supporting its edge AI strategy. Onsemi’s Synaptics acquisition could unlock long-term synergies, says Bank of America
- Positive Sentiment: Separate coverage noted that onsemi was added to several Russell growth benchmarks, including the Russell 1000 Growth, which can support demand from index funds and help offset near-term volatility. Is ON Semiconductor (ON) Fully Valued Following Index Inclusion And Its Synaptics Deal?
- Neutral Sentiment: New product-related coverage highlighted Vadzo Imaging’s validation of an onsemi AR0830 HyperLux camera module for Raspberry Pi 5, which is supportive of the company’s image-sensing technology but likely not a major near-term stock driver. Vadzo Imaging Validates Bolt-830CRS: Onsemi AR0830 HyperLux 8MP 4K HDR MIPI Camera for Raspberry Pi 5
- Negative Sentiment: On the cautionary side, Pomerantz Law Firm announced an investor investigation into onsemi, which can create headline risk even if it does not imply wrongdoing. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ON Semiconductor Corporation – ON
onsemi 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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