Commerce Bank Sells 154 Shares of Onsemi (NASDAQ:ON)

Commerce Bank trimmed its holdings in Onsemi (NASDAQ:ON) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,832 shares of the semiconductor company’s stock after selling 154 shares during the quarter. Commerce Bank’s holdings in Onsemi were worth $1,585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ON. Natixis Advisors LLC grew its stake in Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares during the period. Comerica Bank raised its position in Onsemi by 21.1% during the 1st quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock valued at $7,265,000 after purchasing an additional 17,198 shares in the last quarter. Deltec Asset Management LLC purchased a new stake in shares of Onsemi in the 2nd quarter worth $1,212,000. Finally, Brighton Jones LLC grew its position in shares of Onsemi by 116.6% during the 3rd quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock worth $1,878,000 after buying an additional 13,923 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s 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 transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Roth Mkm upped their target price on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Truist Financial cut their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Stock Up 1.7 %

ON stock opened at $69.62 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm’s fifty day simple moving average is $70.21 and its 200-day simple moving average is $71.79. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a market capitalization of $29.64 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 7.34 and a beta of 1.65.

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