Guinness Asset Management LTD Decreases Position in Onsemi (NASDAQ:ON)

Guinness Asset Management LTD decreased its stake in Onsemi (NASDAQ:ON) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 263,733 shares of the semiconductor company’s stock after selling 100,661 shares during the quarter. Guinness Asset Management LTD’s holdings in Onsemi were worth $16,629,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ON. Artemis Investment Management LLP bought a new position in Onsemi in the 4th quarter valued at $5,644,000. Shelton Wealth Management LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at $951,000. Wedge Capital Management L L P NC grew its holdings in shares of Onsemi by 40.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after purchasing an additional 8,043 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Onsemi by 20.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock worth $274,000 after buying an additional 722 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in Onsemi by 14.8% during the 4th quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company’s stock valued at $599,000 after buying an additional 1,221 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ON. Truist Financial reaffirmed a “hold” rating and set a $60.00 target price (down from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Roth Mkm reaffirmed a “buy” rating and set a $100.00 target price on shares of Onsemi in a research report on Thursday, December 12th. Morgan Stanley upped their target price on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. KeyCorp cut their price target on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.35.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. 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 accessible through this link. Insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Shares of NASDAQ ON opened at $54.63 on Monday. Onsemi has a fifty-two week low of $53.10 and a fifty-two week high of $85.16. The company has a market cap of $23.26 billion, a PE ratio of 13.56, a P/E/G ratio of 5.29 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The business has a 50-day simple moving average of $65.26 and a two-hundred day simple moving average of $69.75.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Onsemi’s revenue was down 19.2% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. As a group, equities analysts expect that Onsemi will post 3.99 EPS 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.