Onsemi (NASDAQ:ON) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its holdings in Onsemi (NASDAQ:ON) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,600 shares of the semiconductor company’s stock after selling 1,900 shares during the period. Hennessy Advisors Inc.’s holdings in Onsemi were worth $2,118,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bridgewater Associates LP lifted its stake in Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after buying an additional 1,109,778 shares during the last quarter. Van ECK Associates Corp lifted 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 purchasing an additional 729,081 shares during the last quarter. 1832 Asset Management L.P. boosted its stake 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 purchasing an additional 574,900 shares during the period. Allspring Global Investments Holdings LLC grew 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 worth $215,518,000 after purchasing an additional 380,471 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Onsemi by 19.4% during the third 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 during the last quarter. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ON. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Morgan Stanley raised their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Wells Fargo & Company decreased their target price on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, KeyCorp decreased their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.35.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following 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 document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Onsemi Stock Performance

Shares of ON opened at $54.63 on Friday. The company has a 50-day moving average of $65.26 and a two-hundred day moving average of $69.77. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 5.29 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a one year low of $53.10 and a one year high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business posted $1.39 EPS. The company’s revenue was down 19.2% on a year-over-year basis. On average, equities research analysts expect that Onsemi will post 3.99 earnings per share for the current year.

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.