Iridian Asset Management LLC CT Reduces Holdings in Onsemi (NASDAQ:ON)

Iridian Asset Management LLC CT lowered its position in Onsemi (NASDAQ:ON) by 2.6% during the 4th quarter, HoldingsChannel reports. The fund owned 88,355 shares of the semiconductor company’s stock after selling 2,354 shares during the period. Onsemi comprises about 1.5% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 24th largest holding. Iridian Asset Management LLC CT’s holdings in Onsemi were worth $5,571,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ON. Capital Performance Advisors LLP purchased a new position in Onsemi during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. increased its position in Onsemi by 12,850.0% during the 3rd 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 period. Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi in the 3rd quarter valued at about $43,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Onsemi in the 4th quarter worth approximately $51,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Up 1.4 %

ON stock opened at $52.44 on Friday. 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 firm’s fifty day simple moving average is $60.99 and its 200-day simple moving average is $67.73. Onsemi has a 12 month low of $49.80 and a 12 month high of $85.16. The company has a market capitalization of $22.33 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 10.02 and a beta of 1.62.

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 that occurred on Monday, November 25th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ON has been the topic of several research reports. Roth Mkm reissued a “buy” rating and set a $100.00 price objective on shares of Onsemi in a report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and issued a $60.00 target price (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

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.