Moran Wealth Management LLC Reduces Holdings in Onsemi (NASDAQ:ON)

Moran Wealth Management LLC lowered its position in shares of Onsemi (NASDAQ:ON) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 35,115 shares of the semiconductor company’s stock after selling 165 shares during the period. Moran Wealth Management LLC’s holdings in Onsemi were worth $2,550,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Davis Investment Partners LLC lifted its position in Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the period. Greenleaf Trust raised its stake in Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares during the last quarter. Covestor Ltd boosted its stake in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 190 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 1.5 %

Shares of ON opened at $68.32 on Friday. The company has a market capitalization of $29.09 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 7.15 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a fifty day moving average of $70.25 and a two-hundred day moving average of $71.79.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, analysts forecast that Onsemi will post 4 EPS for the current year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on ON shares. JPMorgan Chase & Co. upped their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. Bank of America raised their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Roth Mkm boosted their target price on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

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.