Onsemi (NASDAQ:ON) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Onsemi (NASDAQ:ON) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,776 shares of the semiconductor company’s stock after selling 10,071 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Onsemi were worth $5,212,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. purchased a new stake in Onsemi during the third quarter worth about $2,229,000. Point72 Europe London LLP purchased a new stake in shares of Onsemi during the 3rd quarter worth approximately $12,286,000. Circle Wealth Management LLC grew its holdings in shares of Onsemi by 153.1% in the 3rd quarter. Circle Wealth Management LLC now owns 11,828 shares of the semiconductor company’s stock worth $859,000 after acquiring an additional 7,155 shares during the period. BlueCrest Capital Management Ltd increased its stake in Onsemi by 172.3% in the 3rd quarter. BlueCrest Capital Management Ltd now owns 17,700 shares of the semiconductor company’s stock valued at $1,285,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Onsemi by 8.9% during the third quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company’s stock worth $1,337,000 after purchasing an additional 1,500 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock Performance

NASDAQ:ON opened at $73.95 on Tuesday. The company has a market cap of $31.49 billion, a P/E ratio of 18.35, a P/E/G ratio of 7.63 and a beta of 1.65. The firm’s 50 day moving average is $70.20 and its two-hundred day moving average is $71.75. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. Analysts expect that Onsemi will post 4 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was 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 owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,500 shares of company stock worth $321,765 over the last ninety days. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Loop Capital began coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target for the company. TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Robert W. Baird upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Morgan Stanley upped their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.87.

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.