Renaissance Investment Group LLC Sells 244 Shares of Onsemi (NASDAQ:ON)

by · The Cerbat Gem

Renaissance Investment Group LLC lessened its position in Onsemi (NASDAQ:ON – Free Report) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,047 shares of the semiconductor company’s stock after selling 244 shares during the period. Renaissance Investment Group LLC’s holdings in Onsemi were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ON. V Square Quantitative Management LLC lifted its stake in shares of Onsemi by 35.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,612 shares of the semiconductor company’s stock worth $218,000 after buying an additional 690 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Onsemi by 1.7% during the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after buying an additional 164 shares during the last quarter. Centaurus Financial Inc. lifted its stake in shares of Onsemi by 52.2% during the 4th quarter. Centaurus Financial Inc. now owns 16,505 shares of the semiconductor company’s stock worth $1,379,000 after buying an additional 5,663 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Onsemi by 41.7% during the 4th quarter. EP Wealth Advisors LLC now owns 5,625 shares of the semiconductor company’s stock worth $470,000 after buying an additional 1,654 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Onsemi during the 4th quarter worth about $239,000. Institutional investors own 97.70% of the company’s stock.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Onsemi Trading Up 0.0 %

Shares of Onsemi stock opened at $70.33 on Friday. The firm has a market capitalization of $30.13 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 3.81 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $72.06 and its 200 day moving average is $71.56. Onsemi has a 1 year low of $59.34 and a 1 year high of $95.59.

Onsemi (NASDAQ:ON – Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm’s revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. Equities research analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna raised their target price on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Benchmark raised their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Truist Financial lifted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, 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 note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.83.

View Our Latest Research Report on ON

Onsemi Company Profile

(Free Report)

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.

See Also

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