MGB Wealth Management LLC Decreases Stock Position in Onsemi (NASDAQ:ON)

MGB Wealth Management LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,736 shares of the semiconductor company’s stock after selling 945 shares during the period. MGB Wealth Management LLC’s holdings in Onsemi were worth $1,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new stake in shares of Onsemi in the first quarter worth $2,447,000. Larson Financial Group LLC raised its stake in shares of Onsemi by 3,907.5% in the 1st quarter. Larson Financial Group LLC now owns 1,603 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 1,563 shares in the last quarter. Pegasus Asset Management Inc. lifted its position in shares of Onsemi by 1.0% during the first quarter. Pegasus Asset Management Inc. now owns 44,741 shares of the semiconductor company’s stock worth $3,291,000 after purchasing an additional 459 shares during the last quarter. Nordea Investment Management AB grew its stake in Onsemi by 5.2% in the first quarter. Nordea Investment Management AB now owns 283,225 shares of the semiconductor company’s stock worth $21,120,000 after purchasing an additional 14,011 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Onsemi in the first quarter valued at about $45,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ON. Susquehanna decreased their price target on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a report on Tuesday, April 30th. Benchmark decreased their target price on Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research report on Thursday, June 13th. Finally, Rosenblatt Securities dropped their target price on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $89.88.

Insider Activity at Onsemi

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Onsemi Stock Up 3.4 %

Shares of NASDAQ:ON traded up $2.52 during trading on Friday, reaching $76.76. 2,095,849 shares of the company traded hands, compared to its average volume of 6,741,889. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The firm has a market cap of $33.02 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 3.49 and a beta of 1.69. The firm has a fifty day simple moving average of $72.06 and a 200 day simple moving average of $73.78.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. Analysts anticipate that Onsemi will post 3.83 earnings per share for the current fiscal year.

Onsemi 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.