Onsemi (NASDAQ:ON) Shares Sold by Balentine LLC

Balentine LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,821 shares of the semiconductor company’s stock after selling 2,339 shares during the quarter. Balentine LLC’s holdings in Onsemi were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ON. Provence Wealth Management Group acquired a new stake in Onsemi in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Onsemi in the 4th quarter valued at $32,000. Private Wealth Management Group LLC acquired a new stake in Onsemi in the 4th quarter valued at $33,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi in the 4th quarter valued at $33,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Onsemi in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Up 1.6 %

Shares of ON opened at $74.01 on Wednesday. The firm has a market cap of $31.84 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 3.38 and a beta of 1.78. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The company’s 50-day moving average price is $70.64 and its 200 day moving average price is $74.20. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. Onsemi’s revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. On average, sell-side analysts forecast that Onsemi will post 3.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ON. BNP Paribas reissued an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. KeyCorp lowered their target price on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company lowered their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group started coverage on shares of Onsemi in a research note on Monday, May 13th. They set a “buy” rating and a $100.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.28.

Insider Activity at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by 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.