Lifeworks Advisors LLC Sells 25,227 Shares of Onsemi (NASDAQ:ON)

Lifeworks Advisors LLC decreased its holdings in Onsemi (NASDAQ:ON) by 80.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,093 shares of the semiconductor company’s stock after selling 25,227 shares during the quarter. Lifeworks Advisors LLC’s holdings in Onsemi were worth $442,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bleakley Financial Group LLC raised its position in shares of Onsemi by 3.8% during the first quarter. Bleakley Financial Group LLC now owns 7,688 shares of the semiconductor company’s stock worth $565,000 after acquiring an additional 282 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Onsemi during the first quarter worth $555,000. First Eagle Investment Management LLC raised its position in shares of Onsemi by 6.9% during the first quarter. First Eagle Investment Management LLC now owns 7,720 shares of the semiconductor company’s stock worth $568,000 after acquiring an additional 500 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Onsemi by 24.3% during the first quarter. Orion Portfolio Solutions LLC now owns 53,002 shares of the semiconductor company’s stock worth $3,898,000 after purchasing an additional 10,357 shares during the period. Finally, Great Lakes Retirement Inc. grew its stake in shares of Onsemi by 17.1% during the first quarter. Great Lakes Retirement Inc. now owns 3,109 shares of the semiconductor company’s stock worth $229,000 after purchasing an additional 454 shares during the period. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

ON opened at $67.02 on Friday. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The firm has a market capitalization of $28.54 billion, a PE ratio of 16.63, a PEG ratio of 7.34 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The business’s 50-day simple moving average is $70.49 and its 200 day simple moving average is $71.90.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 earnings per share. As a group, sell-side analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ON shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BNP Paribas decreased their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Needham & Company LLC decreased their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.30.

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.