Leavell Investment Management Inc. Sells 6,048 Shares of Onsemi (NASDAQ:ON)

Leavell Investment Management Inc. cut its holdings in Onsemi (NASDAQ:ON) by 37.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,050 shares of the semiconductor company’s stock after selling 6,048 shares during the period. Leavell Investment Management Inc.’s holdings in Onsemi were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ON. Bridgewater Associates LP raised its position in shares of Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Van ECK Associates Corp increased its position in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after buying an additional 380,471 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ON shares. The Goldman Sachs Group decreased their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus decreased their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday. Morgan Stanley cut their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday. Mizuho cut their price target on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $68.16.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’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. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Onsemi Trading Up 1.7 %

NASDAQ:ON opened at $50.92 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $21.68 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The firm’s 50 day moving average is $59.01 and its 200 day moving average is $66.95. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. Sell-side analysts expect that Onsemi will post 3.99 earnings per share for the current year.

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.