Malaga Cove Capital LLC Sells 1,614 Shares of Onsemi (NASDAQ:ON)

Malaga Cove Capital LLC lessened its stake in Onsemi (NASDAQ:ON) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 233,078 shares of the semiconductor company’s stock after selling 1,614 shares during the quarter. Onsemi accounts for approximately 6.5% of Malaga Cove Capital LLC’s portfolio, making the stock its biggest position. Malaga Cove Capital LLC owned approximately 0.05% of Onsemi worth $15,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC increased its holdings in Onsemi by 23.5% in the fourth quarter. Private Advisor Group LLC now owns 8,551 shares of the semiconductor company’s stock valued at $714,000 after buying an additional 1,625 shares during the last quarter. Principal Securities Inc. purchased a new stake in Onsemi during the fourth quarter worth approximately $204,000. Dimensional Fund Advisors LP lifted its stake in Onsemi by 25.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock worth $268,835,000 after purchasing an additional 645,969 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Onsemi by 2.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,539 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 213 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in Onsemi during the fourth quarter worth approximately $1,646,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Up 2.2 %

ON opened at $69.39 on Tuesday. The business’s fifty day simple moving average is $73.50 and its 200 day simple moving average is $72.61. Onsemi has a 52 week low of $59.34 and a 52 week high of $99.45. The firm has a market cap of $29.85 billion, a P/E ratio of 14.16, a PEG ratio of 3.64 and a beta of 1.66. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company earned $1.33 EPS. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities research analysts anticipate that Onsemi will post 4.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on ON shares. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of Onsemi in a report on Thursday, June 13th. Roth Mkm raised their price target on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. TD Cowen raised their target price on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Rosenblatt Securities upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Onsemi currently has a consensus rating of “Hold” and a consensus price target of $85.61.

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.