Onsemi (NASDAQ:ON) Stock Holdings Lowered by Bar Harbor Wealth Management

Bar Harbor Wealth Management reduced its holdings in Onsemi (NASDAQ:ON) by 37.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,268 shares of the semiconductor company’s stock after selling 12,719 shares during the quarter. Bar Harbor Wealth Management’s holdings in Onsemi were worth $865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GraniteShares Advisors LLC increased its position in shares of Onsemi by 16.2% in the first quarter. GraniteShares Advisors LLC now owns 9,511 shares of the semiconductor company’s stock worth $387,000 after acquiring an additional 1,328 shares in the last quarter. Net Worth Advisory Group increased its position in shares of Onsemi by 71.7% in the first quarter. Net Worth Advisory Group now owns 5,770 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 2,409 shares in the last quarter. CX Institutional purchased a new position in shares of Onsemi in the first quarter worth approximately $128,000. Assenagon Asset Management S.A. increased its position in shares of Onsemi by 226.0% in the first quarter. Assenagon Asset Management S.A. now owns 888,364 shares of the semiconductor company’s stock worth $36,148,000 after acquiring an additional 615,825 shares in the last quarter. Finally, Atwood & Palmer Inc. increased its position in shares of Onsemi by 2.5% in the first quarter. Atwood & Palmer Inc. now owns 289,056 shares of the semiconductor company’s stock worth $11,762,000 after acquiring an additional 6,945 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Price Performance

Shares of Onsemi stock opened at $51.02 on Friday. The firm has a fifty day simple moving average of $41.86 and a 200-day simple moving average of $49.92. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $1.08 earnings per share. Onsemi’s revenue for the quarter was down 22.4% on a year-over-year basis. On average, sell-side analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

ON has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Onsemi from $60.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Mizuho lowered their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Onsemi in a research report on Tuesday, May 6th. Robert W. Baird lowered their price objective on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Finally, KGI Securities began coverage on shares of Onsemi in a research report on Friday, May 23rd. They set a “neutral” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.12.

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.