MGB Wealth Management LLC Decreases Holdings in Onsemi (NASDAQ:ON)

MGB Wealth Management LLC lowered its stake in shares of Onsemi (NASDAQ:ON) by 57.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,118 shares of the semiconductor company’s stock after selling 8,117 shares during the period. MGB Wealth Management LLC’s holdings in Onsemi were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi during the third quarter worth $33,000. GHP Investment Advisors Inc. raised its position in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Onsemi in the third quarter worth about $43,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Onsemi during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 4.4 %

Shares of NASDAQ ON opened at $50.06 on Thursday. The stock has a fifty day simple moving average of $59.30 and a 200-day simple moving average of $67.06. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $21.32 billion, a PE ratio of 12.42, a PEG ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. On average, equities analysts forecast that Onsemi will post 3.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group cut their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Robert W. Baird increased their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Loop Capital began coverage on Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Morgan Stanley cut their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $68.16.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

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.