Davis Investment Partners LLC Sells 3,718 Shares of Onsemi (NASDAQ:ON)

Davis Investment Partners LLC reduced its position in shares of Onsemi (NASDAQ:ON) by 21.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,394 shares of the semiconductor company’s stock after selling 3,718 shares during the quarter. Davis Investment Partners LLC’s holdings in Onsemi were worth $844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bar Harbor Wealth Management increased its holdings in Onsemi by 5.7% in the 4th quarter. Bar Harbor Wealth Management now owns 33,987 shares of the semiconductor company’s stock worth $2,143,000 after acquiring an additional 1,845 shares in the last quarter. Czech National Bank increased its stake in shares of Onsemi by 5.8% in the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company’s stock worth $5,821,000 after purchasing an additional 5,062 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Onsemi by 61.0% during the 4th quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company’s stock valued at $293,000 after purchasing an additional 1,758 shares during the period. Nordea Investment Management AB lifted its stake in shares of Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Onsemi in the 3rd quarter worth $389,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ:ON traded up $1.93 during mid-day trading on Monday, hitting $55.87. The company’s stock had a trading volume of 11,913,437 shares, compared to its average volume of 10,733,180. The business’s fifty day moving average is $66.86 and its two-hundred day moving average is $70.29. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 7.07 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. Onsemi has a 1 year low of $53.10 and a 1 year high of $85.16.

Onsemi (NASDAQ:ON) last announced its quarterly 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. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 earnings per share. Analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho set a $85.00 target price on shares of Onsemi in a research report on Friday, October 18th. TD Cowen reduced their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Robert W. Baird increased their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Roth Mkm restated a “buy” rating and issued a $100.00 target price on shares of Onsemi in a report on Thursday, December 12th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.22.

Onsemi 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.