Hodges Capital Management Inc. Sells 23,070 Shares of Onsemi (NASDAQ:ON)

Hodges Capital Management Inc. reduced its position in Onsemi (NASDAQ:ON) by 12.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 160,244 shares of the semiconductor company’s stock after selling 23,070 shares during the period. Hodges Capital Management Inc.’s holdings in Onsemi were worth $10,103,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ON. Creative Planning raised its stake in Onsemi by 11.2% in the 2nd quarter. Creative Planning now owns 21,991 shares of the semiconductor company’s stock worth $1,507,000 after purchasing an additional 2,215 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Onsemi in the second quarter valued at approximately $4,360,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 42.8% in the third 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. Czech National Bank grew its position in Onsemi by 6.4% during the third quarter. Czech National Bank now owns 87,260 shares of the semiconductor company’s stock worth $6,336,000 after buying an additional 5,276 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its stake in Onsemi by 3.1% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 14,981 shares of the semiconductor company’s stock worth $1,088,000 after acquiring an additional 445 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 1.7 %

Shares of ON opened at $52.34 on Monday. Onsemi has a fifty-two week low of $51.81 and a fifty-two week high of $85.16. The business has a 50-day moving average of $62.57 and a 200 day moving average of $68.28. The firm has a market cap of $22.29 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 10.02 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ON shares. Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and issued a $60.00 price objective (down from $85.00) on shares of Onsemi in a research note on Friday, January 10th. B. Riley lowered their target price on Onsemi from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 24th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Susquehanna lowered their price objective on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.70.

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.