FWG Holdings LLC Lowers Position in Onsemi (NASDAQ:ON)

FWG Holdings LLC decreased its position in Onsemi (NASDAQ:ON) by 21.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,943 shares of the semiconductor company’s stock after selling 1,338 shares during the quarter. FWG Holdings LLC’s holdings in Onsemi were worth $357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Capital International Investors boosted its holdings in shares of Onsemi by 1.0% in the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after buying an additional 42,117 shares during the last quarter. Van ECK Associates Corp increased its holdings in Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after buying an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after acquiring an additional 380,471 shares during the period. Finally, Earnest Partners LLC boosted its stake in Onsemi by 6.7% in the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock valued at $190,939,000 after acquiring an additional 161,987 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. BNP Paribas decreased their target price on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Morgan Stanley upped their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Loop Capital initiated coverage on Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Performance

NASDAQ:ON opened at $66.48 on Tuesday. The stock has a market cap of $28.31 billion, a P/E ratio of 16.50, a PEG ratio of 6.94 and a beta of 1.65. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $70.37 and its two-hundred day moving average price is $71.87. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm posted $1.39 earnings per share. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, equities analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Onsemi Company 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.