Onsemi (NASDAQ:ON) Position Reduced by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC reduced its position in shares of Onsemi (NASDAQ:ON) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,180 shares of the semiconductor company’s stock after selling 675 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Onsemi were worth $1,020,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ON. Atwood & Palmer Inc. boosted its holdings in Onsemi by 0.9% during the fourth quarter. Atwood & Palmer Inc. now owns 282,111 shares of the semiconductor company’s stock worth $17,787,000 after buying an additional 2,455 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Onsemi during the 4th quarter worth $5,644,000. Shelton Wealth Management LLC acquired a new position in shares of Onsemi in the 4th quarter worth $951,000. Wedge Capital Management L L P NC grew its holdings in shares of Onsemi by 40.4% in the 4th 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Onsemi by 20.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 722 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

Onsemi Stock Performance

ON opened at $56.26 on Friday. 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 company has a market cap of $23.96 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 10.54 and a beta of 1.64. The stock has a 50-day moving average of $64.20 and a 200-day moving average of $69.31. Onsemi has a 52-week low of $53.10 and a 52-week high of $85.16.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ON shares. Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. KeyCorp cut their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Truist Financial reiterated a “hold” rating and set a $60.00 price target (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.26.

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.