ArrowMark Colorado Holdings LLC Lowers Stake in Onsemi (NASDAQ:ON)

ArrowMark Colorado Holdings LLC lessened its holdings in Onsemi (NASDAQ:ON) by 10.2% during the third quarter, Holdings Channel.com reports. The firm owned 379,038 shares of the semiconductor company’s stock after selling 43,203 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Onsemi were worth $27,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares in the last quarter. Van ECK Associates Corp increased its holdings 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 acquiring an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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. Charles Schwab Investment Management Inc. boosted its stake in Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after purchasing an additional 31,889 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Onsemi by 19.4% during 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 purchasing an additional 326,734 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their target price 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. Morgan Stanley increased their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company initiated coverage on Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Finally, 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. Two 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 company. According to MarketBeat, the company currently has a consensus 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 the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,500 shares of company stock valued at $321,765 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Onsemi Trading Up 1.1 %

Shares of NASDAQ:ON opened at $71.12 on Monday. The stock has a 50 day moving average of $70.20 and a 200 day moving average of $71.77. The company has a market cap of $30.28 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 7.63 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

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