Avestar Capital LLC Sells 2,475 Shares of Onsemi (NASDAQ:ON)

Avestar Capital LLC reduced its stake in Onsemi (NASDAQ:ON) by 41.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,501 shares of the semiconductor company’s stock after selling 2,475 shares during the quarter. Avestar Capital LLC’s holdings in Onsemi were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ON. Allspring Global Investments Holdings LLC boosted its holdings in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares in the last quarter. Equitable Trust Co. purchased a new stake in Onsemi during the 4th quarter valued at about $1,548,000. Savant Capital LLC increased its stake in Onsemi by 9.9% during the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 297 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Onsemi in the fourth quarter worth about $41,000. Finally, Empowered Funds LLC lifted its stake in shares of Onsemi by 288.9% in the fourth quarter. Empowered Funds LLC now owns 160,770 shares of the semiconductor company’s stock worth $10,137,000 after buying an additional 119,428 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

NASDAQ ON opened at $51.83 on Friday. The stock has a market cap of $21.84 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 10.27 and a beta of 1.61. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16. The company’s 50 day moving average is $58.71 and its two-hundred day moving average is $66.72. 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 (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. As a group, research analysts anticipate that Onsemi will post 3.99 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. B. Riley decreased their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus dropped their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.16.

Insider Transactions at Onsemi

In other 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

About Onsemi

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.