Sumitomo Mitsui Trust Group Inc. Purchases 20,405 Shares of Onsemi (NASDAQ:ON)

Sumitomo Mitsui Trust Group Inc. lifted its position in Onsemi (NASDAQ:ON) by 2.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,061,823 shares of the semiconductor company’s stock after buying an additional 20,405 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Onsemi were worth $77,099,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares in the last quarter. Capital International Investors increased its holdings in Onsemi by 1.0% during the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after purchasing an additional 42,117 shares in the last quarter. Van ECK Associates Corp increased its holdings in Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in Onsemi by 6.7% during the 1st quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock worth $190,939,000 after purchasing an additional 161,987 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 2.1 %

Shares of ON stock opened at $67.02 on Friday. The firm has a 50 day moving average price of $70.49 and a two-hundred day moving average price of $71.90. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $28.54 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 7.53 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. As a group, analysts predict that Onsemi will post 4 earnings per share for the current year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Morgan Stanley raised their price objective on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.30.

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.