Great Lakes Retirement Inc. Purchases 454 Shares of Onsemi (NASDAQ:ON)

Great Lakes Retirement Inc. boosted its position in shares of Onsemi (NASDAQ:ON) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,109 shares of the semiconductor company’s stock after purchasing an additional 454 shares during the period. Great Lakes Retirement Inc.’s holdings in Onsemi were worth $229,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ON. Vanguard Group Inc. grew its holdings in shares of Onsemi by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after acquiring an additional 321,682 shares in the last quarter. Capital World Investors bought a new position in shares of Onsemi in the 4th quarter valued at about $697,276,000. Norges Bank bought a new position in shares of Onsemi in the 4th quarter valued at about $418,102,000. Capital International Investors grew its holdings in shares of Onsemi by 1.1% in the 4th quarter. Capital International Investors now owns 4,064,889 shares of the semiconductor company’s stock valued at $339,590,000 after acquiring an additional 43,565 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Onsemi by 25.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after acquiring an additional 645,969 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ON shares. Jefferies Financial Group started coverage on Onsemi in a report on Monday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Stifel Nicolaus reduced their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. TD Cowen reduced their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Finally, Morgan Stanley cut Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Insiders Place Their Bets

In other Onsemi 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 $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’s 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 completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Shares of ON stock traded down $2.90 during trading on Friday, hitting $72.53. The company had a trading volume of 6,339,637 shares, compared to its average volume of 5,154,935. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The firm has a market capitalization of $31.20 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 3.44 and a beta of 1.69. The stock’s 50-day moving average price is $72.70 and its 200 day moving average price is $73.43. Onsemi has a one year low of $59.34 and a one year high of $111.35.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts expect that Onsemi will post 3.83 EPS for the current fiscal year.

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.