MONECO Advisors LLC Cuts Stock Position in Onsemi (NASDAQ:ON)

MONECO Advisors LLC decreased its holdings in shares of Onsemi (NASDAQ:ON) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,383 shares of the semiconductor company’s stock after selling 752 shares during the period. MONECO Advisors LLC’s holdings in Onsemi were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ON. GHP Investment Advisors Inc. raised its holdings in shares of Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the last quarter. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Onsemi during the 2nd quarter worth $43,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Onsemi during the first quarter worth $45,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday. Bank of America upped their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Citigroup downgraded Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Susquehanna upped their target price on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, Roth Mkm raised their target price on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.57.

Onsemi Price Performance

Shares of ON opened at $74.70 on Wednesday. The company has a market cap of $32.00 billion, a P/E ratio of 18.54, a PEG ratio of 3.82 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $71.49 and its 200 day moving average price is $71.48.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. On average, research analysts forecast that Onsemi will post 4.01 earnings per share 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.