Texas Permanent School Fund Corp Has $6.50 Million Stock Holdings in Onsemi (NASDAQ:ON)

Texas Permanent School Fund Corp lowered its holdings in shares of Onsemi (NASDAQ:ON) by 0.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 88,365 shares of the semiconductor company’s stock after selling 593 shares during the period. Texas Permanent School Fund Corp’s holdings in Onsemi were worth $6,499,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital World Investors acquired a new position in shares of Onsemi during the 4th quarter valued at $697,276,000. Norges Bank bought a new stake in shares of Onsemi during the fourth quarter worth about $418,102,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 acquiring an additional 828,944 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Onsemi by 35.6% in the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock valued at $249,717,000 after acquiring an additional 785,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Onsemi by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after purchasing an additional 645,969 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of NASDAQ ON traded up $1.56 during midday trading on Friday, hitting $75.80. 492,262 shares of the company’s stock were exchanged, compared to its average volume of 6,728,198. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $72.06 and its two-hundred day moving average price is $73.78. The company has a market cap of $32.61 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 3.49 and a beta of 1.69. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on ON shares. Benchmark cut 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. BNP Paribas reiterated an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Mizuho dropped their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a research note on Thursday, June 13th. Finally, Susquehanna dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $89.88.

Insider Transactions at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated 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 directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Onsemi Company 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.