Kentucky Retirement Systems Insurance Trust Fund Sells 1,242 Shares of Onsemi (NASDAQ:ON)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Onsemi (NASDAQ:ON) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,102 shares of the semiconductor company’s stock after selling 1,242 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Onsemi were worth $1,037,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new position in Onsemi during the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter worth about $33,000. Private Wealth Management Group LLC bought a new position in Onsemi in the 4th quarter worth about $33,000. Westside Investment Management Inc. grew its position in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Onsemi during the 1st quarter valued at about $45,000. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

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

Onsemi Stock Up 12.9 %

Shares of ON stock traded up $9.07 during mid-day trading on Monday, hitting $79.24. The stock had a trading volume of 10,948,507 shares, compared to its average volume of 6,824,990. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The firm’s 50-day moving average is $72.55 and its two-hundred day moving average is $73.16. The firm has a market capitalization of $34.09 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, analysts predict that Onsemi will post 4.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ON has been the topic of several analyst reports. Rosenblatt Securities cut their price target on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. KeyCorp cut their target price on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Susquehanna raised their target price on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company lowered their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $88.36.

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.