Bar Harbor Wealth Management Increases Stock Position in Onsemi (NASDAQ:ON)

Bar Harbor Wealth Management grew its position in shares of Onsemi (NASDAQ:ON) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,987 shares of the semiconductor company’s stock after purchasing an additional 1,845 shares during the period. Bar Harbor Wealth Management’s holdings in Onsemi were worth $2,143,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ON. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in Onsemi during the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. lifted its stake in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi in the 3rd quarter valued at approximately $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 42.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 269 shares during the period. 97.70% of the stock is owned by institutional investors.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated 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 owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Onsemi Price Performance

Shares of Onsemi stock traded up $1.95 on Monday, hitting $55.89. The company’s stock had a trading volume of 9,734,909 shares, compared to its average volume of 10,331,518. The company has a market capitalization of $23.80 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. The firm has a fifty day moving average price of $66.86 and a 200-day moving average price of $70.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 1 year low of $53.10 and a 1 year high of $85.16.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. The Goldman Sachs Group cut their price objective on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $60.00 price target (down previously from $85.00) on shares of Onsemi in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.22.

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.