Rep. Robert Bresnahan, Jr. Sells Onsemi (NASDAQ:ON) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Onsemi (NASDAQ:ON). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Onsemi stock on February 25th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Onsemi Trading Down 6.4 %

Onsemi stock traded down $2.82 during trading on Friday, hitting $40.94. The company had a trading volume of 10,437,180 shares, compared to its average volume of 7,105,551. Onsemi has a 1-year low of $40.62 and a 1-year high of $80.08. The company’s 50 day simple moving average is $48.92 and its 200-day simple moving average is $61.21. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 price objective on shares of Onsemi in a research note on Thursday, February 27th. KeyCorp decreased their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. Finally, B. Riley reduced their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Institutional Investors Weigh In On Onsemi

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Onsemi in the fourth quarter worth $378,312,000. Bridgewater Associates LP grew its stake in Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. Janus Henderson Group PLC raised its stake in Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after buying an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Onsemi in the 4th quarter valued at about $62,426,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Onsemi

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.