Brighton Jones LLC Cuts Holdings in Onsemi (NASDAQ:ON)

Brighton Jones LLC lessened its position in shares of Onsemi (NASDAQ:ON) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,650 shares of the semiconductor company’s stock after selling 209 shares during the period. Brighton Jones LLC’s holdings in Onsemi were worth $1,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi during the third quarter worth about $33,000. GHP Investment Advisors Inc. boosted its position in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in shares of Onsemi in the third quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Onsemi by 42.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 269 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of NASDAQ ON opened at $54.50 on Friday. Onsemi has a 1-year low of $53.10 and a 1-year high of $85.16. The firm has a market capitalization of $23.21 billion, a PE ratio of 13.52, a P/E/G ratio of 10.62 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The business’s fifty day moving average price is $64.00 and its two-hundred day moving average price is $69.17.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business posted $1.39 EPS. Onsemi’s revenue was down 19.2% on a year-over-year basis. On average, research analysts expect that Onsemi will post 4 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Robert W. Baird lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Truist Financial reaffirmed a “hold” rating and set a $60.00 target price (down from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Finally, BNP Paribas reduced their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.70.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

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.