Toronto Dominion Bank Sells 15,078 Shares of Onsemi (NASDAQ:ON)

Toronto Dominion Bank cut its holdings in Onsemi (NASDAQ:ON) by 9.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,101 shares of the semiconductor company’s stock after selling 15,078 shares during the period. Toronto Dominion Bank’s holdings in Onsemi were worth $11,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ON. Integrated Advisors Network LLC increased its position in Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after buying an additional 164 shares in the last quarter. Perigon Wealth Management LLC increased its position in Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after buying an additional 177 shares in the last quarter. STF Management LP increased its position in Onsemi by 2.5% in the 4th quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock valued at $602,000 after buying an additional 178 shares in the last quarter. Covestor Ltd increased its position in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 190 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in Onsemi by 25.3% during the 4th quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 198 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Onsemi Trading Up 3.9 %

ON stock traded up $2.63 during trading on Friday, reaching $70.17. The company had a trading volume of 7,762,192 shares, compared to its average volume of 6,796,082. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a market cap of $30.19 billion, a P/E ratio of 14.32, a PEG ratio of 3.04 and a beta of 1.69. The business has a 50 day moving average of $72.55 and a 200 day moving average of $73.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. Onsemi’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. As a group, sell-side analysts forecast that Onsemi will post 4.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ON. Evercore ISI began coverage on Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target for the company. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. Wells Fargo & Company cut their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. B. Riley restated a “buy” rating and issued a $103.00 target price (down previously from $115.00) on shares of Onsemi in a research note on Tuesday, April 30th. Finally, Rosenblatt Securities cut their target price on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Insider Buying and Selling

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

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.