TCW Group Inc. Decreases Stake in Onsemi (NASDAQ:ON)

TCW Group Inc. lowered its position in shares of Onsemi (NASDAQ:ON) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 567,596 shares of the semiconductor company’s stock after selling 14,754 shares during the quarter. TCW Group Inc. owned about 0.13% of Onsemi worth $47,421,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ON. Provence Wealth Management Group acquired a new stake in Onsemi in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Onsemi in the fourth quarter worth $32,000. MeadowBrook Investment Advisors LLC bought a new position in Onsemi during the fourth quarter valued at about $33,000. Private Wealth Management Group LLC acquired a new position in Onsemi during the fourth quarter worth about $33,000. Finally, Hanseatic Management Services Inc. acquired a new position in Onsemi during the third quarter worth about $38,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

ON has been the topic of a number of analyst reports. Evercore ISI began coverage on Onsemi in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target on the stock. Susquehanna reduced their price target on Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on Onsemi in a report on Monday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, Stifel Nicolaus reduced their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.28.

Insiders Place Their Bets

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of ON traded down $4.64 during mid-day trading on Thursday, reaching $71.65. The company’s stock had a trading volume of 9,584,099 shares, compared to its average volume of 7,271,406. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The stock has a market cap of $30.83 billion, a P/E ratio of 15.77, a PEG ratio of 3.32 and a beta of 1.78. The business has a 50-day simple moving average of $70.57 and a two-hundred day simple moving average of $74.21. 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 announced its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. As a group, equities research analysts anticipate that Onsemi will post 3.83 earnings per share for the current fiscal year.

Onsemi Profile

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.