M&G Plc Has $53.66 Million Stock Position in Onsemi (NASDAQ:ON)

M&G Plc trimmed its stake in shares of Onsemi (NASDAQ:ON) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 735,073 shares of the semiconductor company’s stock after selling 5,493 shares during the period. M&G Plc’s holdings in Onsemi were worth $53,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in shares of Onsemi in the 1st quarter worth approximately $90,274,000. American Century Companies Inc. raised its position in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after purchasing an additional 909,558 shares during the last quarter. Van ECK Associates Corp raised its position in Onsemi by 26.4% in 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 during the last quarter. Dimensional Fund Advisors LP raised its position in Onsemi by 18.7% in 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 during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after purchasing an additional 574,900 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ON. KeyCorp dropped their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Needham & Company LLC dropped their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird upped their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Finally, BNP Paribas dropped their target price on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Price Performance

Shares of NASDAQ ON opened at $72.27 on Thursday. The firm has a market cap of $30.77 billion, a PE ratio of 17.93, a PEG ratio of 7.45 and a beta of 1.65. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The company has a fifty day moving average price of $71.00 and a 200 day moving average price of $71.74.

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

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.