Baldwin Investment Management LLC Cuts Position in Onsemi (NASDAQ:ON)

Baldwin Investment Management LLC cut its holdings in Onsemi (NASDAQ:ON) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,135 shares of the semiconductor company’s stock after selling 525 shares during the period. Baldwin Investment Management LLC’s holdings in Onsemi were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after acquiring an additional 665,633 shares during the period. Van ECK Associates Corp raised its holdings in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after purchasing an additional 380,471 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Onsemi by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after purchasing an additional 31,889 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Down 0.7 %

ON stock opened at $70.35 on Thursday. The company’s 50 day moving average is $70.24 and its 200 day moving average is $71.81. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 7.76 and a beta of 1.65. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77.

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, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company posted $1.39 EPS. The business’s quarterly revenue was down 19.2% on a year-over-year basis. Sell-side analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction 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 transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 4,500 shares of company stock valued at $321,765 over the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the topic of a number of recent research reports. Truist Financial dropped their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Robert W. Baird upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

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.