Baron Wealth Management LLC Trims Holdings in Onsemi (NASDAQ:ON)

Baron Wealth Management LLC lowered its position in shares of Onsemi (NASDAQ:ON) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,678 shares of the semiconductor company’s stock after selling 983 shares during the quarter. Baron Wealth Management LLC’s holdings in Onsemi were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ON. Capital Performance Advisors LLP purchased a new position in Onsemi in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Onsemi in the third quarter worth $33,000. GHP Investment Advisors Inc. boosted its position 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 worth $38,000 after acquiring an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new position in Onsemi during the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Onsemi by 42.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 269 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Performance

NASDAQ ON opened at $53.77 on Thursday. Onsemi has a fifty-two week low of $52.80 and a fifty-two week high of $85.16. 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 firm has a market capitalization of $22.90 billion, a P/E ratio of 13.34, a PEG ratio of 10.62 and a beta of 1.64. The stock has a 50-day simple moving average of $63.22 and a two-hundred day simple moving average of $68.67.

Onsemi (NASDAQ:ON) last posted its earnings results 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 during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s quarterly revenue was down 19.2% on a year-over-year basis. On average, equities analysts forecast that Onsemi will post 4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ON shares. KeyCorp decreased their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Truist Financial restated a “hold” rating and issued a $60.00 price target (down from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Robert W. Baird boosted their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Mizuho set a $85.00 price target on shares of Onsemi in a report on Friday, October 18th. Finally, Morgan Stanley increased their price objective on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.70.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

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.