Baldwin Investment Management LLC Sells 525 Shares of Onsemi (NASDAQ:ON)

Baldwin Investment Management LLC trimmed its position in shares of Onsemi (NASDAQ:ON) by 14.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,135 shares of the semiconductor company’s stock after selling 525 shares during the quarter. Baldwin Investment Management LLC’s holdings in Onsemi were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Swedbank AB purchased a new position in Onsemi during the 1st quarter valued at $90,274,000. American Century Companies Inc. increased its position in shares of Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after buying an additional 909,558 shares during the period. Van ECK Associates Corp increased its position in shares of Onsemi by 26.4% during the third 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after buying an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after acquiring an additional 574,900 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Shares of ON stock opened at $70.35 on Thursday. The firm has a market capitalization of $29.95 billion, a PE ratio of 17.46, a P/E/G ratio of 7.76 and a beta of 1.65. The company has a 50 day moving average price of $70.24 and a 200-day moving average price of $71.81. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the firm posted $1.39 earnings per share. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 4 earnings per share for the current year.

Analyst Upgrades and Downgrades

ON has been the subject of several research reports. Truist Financial decreased their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. KeyCorp lowered their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Loop Capital began coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Mizuho set a $85.00 price target on shares of Onsemi in a research note on Friday, October 18th. Finally, Robert W. Baird boosted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 4,500 shares of company stock valued at $321,765. Insiders own 0.31% of the company’s stock.

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.