VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in onsemi $ON

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of onsemi (NASDAQ:ON) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 80,550 shares of the semiconductor company’s stock, valued at approximately $6,192,000.

Several other large investors also recently bought and sold shares of the company. North Dakota State Investment Board raised its stake in shares of onsemi by 22.4% during the 3rd quarter. North Dakota State Investment Board now owns 20,974 shares of the semiconductor company’s stock worth $1,612,000 after buying an additional 3,840 shares during the last quarter. VestGen Advisors LLC grew its stake in onsemi by 8.3% in the 3rd quarter. VestGen Advisors LLC now owns 4,546 shares of the semiconductor company’s stock valued at $349,000 after acquiring an additional 350 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in onsemi by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 176,218 shares of the semiconductor company’s stock valued at $13,546,000 after acquiring an additional 3,600 shares during the last quarter. Park Avenue Securities LLC grew its stake in onsemi by 10.4% in the 3rd quarter. Park Avenue Securities LLC now owns 13,518 shares of the semiconductor company’s stock valued at $1,039,000 after acquiring an additional 1,268 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in onsemi by 4.5% during the 3rd quarter. Signaturefd LLC now owns 10,217 shares of the semiconductor company’s stock valued at $785,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

onsemi Price Performance

Shares of NASDAQ ON opened at $71.67 on Monday. The firm has a market cap of $27.90 billion, a P/E ratio of 45.94, a price-to-earnings-growth ratio of 0.59 and a beta of 2.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.49 and a current ratio of 3.46. onsemi has a 1 year low of $44.56 and a 1 year high of $134.92. The firm’s 50 day moving average price is $74.75 and its 200 day moving average price is $81.96.

onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. onsemi had a return on equity of 14.06% and a net margin of 10.17%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that onsemi will post 3.21 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of onsemi from $120.00 to $98.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Zacks Research lowered shares of onsemi from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Stifel Nicolaus raised their price objective on shares of onsemi from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, October 5th. Susquehanna reduced their target price on onsemi from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 21st. Finally, Stonex Financia upgraded onsemi to a “strong-buy” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.68.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Options-market data indicate traders are positioning for a potential post-earnings rally, suggesting some investors expect results or guidance to exceed the market’s cautious expectations. Ahead of On Semiconductor Earnings, Here’s What Barchart Data Says Comes Next for ON Stock
• Positive Sentiment: Analysts are generally maintaining positive ratings, and the prior quarter showed momentum: onsemi exceeded EPS and revenue estimates, with revenue rising 9.2% year over year. The upcoming report could reinforce that recovery if management delivers on its forecast. Earnings to watch: onsemi reports Q3 results tomorrow
• Neutral Sentiment: onsemi is expected to report third-quarter results around early November, with estimates cited at approximately $0.88 in EPS and $1.7 billion in revenue. Investors will focus on automotive and industrial semiconductor demand, margins, and forward guidance. ON Semiconductor Earnings Are Imminent
• Negative Sentiment: Several analysts have reduced price targets ahead of earnings, signaling concern that the semiconductor recovery may be slower than previously anticipated. The stock’s elevated valuation—about 46 times earnings—also leaves limited room for an earnings or guidance disappointment. Analysts Revise Forecasts Ahead of Earnings Call

Insider Activity at onsemi

In related news, insider Sudhir Gopalswamy sold 15,578 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares in the company, valued at approximately $12,654,160. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is currently owned by corporate insiders.

onsemi 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.