Atwood & Palmer Inc. Buys 2,455 Shares of Onsemi (NASDAQ:ON)

Atwood & Palmer Inc. boosted its stake in Onsemi (NASDAQ:ON) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 282,111 shares of the semiconductor company’s stock after acquiring an additional 2,455 shares during the period. Atwood & Palmer Inc.’s holdings in Onsemi were worth $17,787,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ON. Artemis Investment Management LLP acquired a new stake in Onsemi in the fourth quarter worth $5,644,000. Shelton Wealth Management LLC bought a new stake in shares of Onsemi in the 4th quarter valued at $951,000. Wedge Capital Management L L P NC lifted its holdings in Onsemi by 40.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after acquiring an additional 8,043 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Onsemi by 20.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 722 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in shares of Onsemi by 14.8% in the fourth quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company’s stock worth $599,000 after acquiring an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ON. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Truist Financial reaffirmed a “hold” rating and set a $60.00 target price (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Benchmark reissued a “buy” rating and set a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. BNP Paribas lowered their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Finally, Morgan Stanley boosted their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.35.

Onsemi Trading Up 2.1 %

NASDAQ:ON opened at $54.63 on Tuesday. Onsemi has a one year low of $53.10 and a one year high of $85.16. The company has a market cap of $23.26 billion, a PE ratio of 13.56, a PEG ratio of 10.36 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. The firm has a 50-day moving average of $64.96 and a 200-day moving average of $69.62.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’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 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.