Paradiem LLC Cuts Position in Onsemi (NASDAQ:ON)

Paradiem LLC decreased its holdings in Onsemi (NASDAQ:ON) by 49.0% in the 4th quarter, HoldingsChannel reports. The fund owned 36,478 shares of the semiconductor company’s stock after selling 35,070 shares during the quarter. Paradiem LLC’s holdings in Onsemi were worth $2,300,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Onsemi in the third quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi in the third quarter valued at $33,000. GHP Investment Advisors Inc. grew its holdings in Onsemi by 12,850.0% in the third 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 acquired a new stake in Onsemi in the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in 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 purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Loop Capital assumed coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. The Goldman Sachs Group lowered their target price on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Truist Financial reissued a “hold” rating and issued a $60.00 target price (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. KeyCorp decreased their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. Two 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.26.

Onsemi Stock Performance

NASDAQ ON opened at $56.03 on Thursday. The business’s 50-day moving average price is $64.42 and its 200 day moving average price is $69.40. The company has a market capitalization of $23.86 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 10.54 and a beta of 1.64. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $53.10 and a twelve month high of $85.16.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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 company had revenue of $1.76 billion for 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%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period last year, the business posted $1.39 EPS. On average, research analysts predict that Onsemi will post 4 earnings per share for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

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.