Hartford Investment Management Co. Reduces Stock Holdings in Onsemi (NASDAQ:ON)

Hartford Investment Management Co. cut its position in shares of Onsemi (NASDAQ:ON) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,296 shares of the semiconductor company’s stock after selling 641 shares during the period. Hartford Investment Management Co.’s holdings in Onsemi were worth $1,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Greenleaf Trust raised its stake in shares of Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after acquiring an additional 173 shares during the period. Meridian Financial Partners LLC increased its holdings in Onsemi by 1.7% in the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the last quarter. Sentry Investment Management LLC increased its holdings in Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 209 shares during the last quarter. CX Institutional raised its position in Onsemi by 5.2% in the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 232 shares during the period. Finally, Metis Global Partners LLC lifted its stake in Onsemi by 1.8% during the third quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock worth $996,000 after purchasing an additional 237 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ON. Craig Hallum cut their price objective on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday. Robert W. Baird boosted their price target 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. Stifel Nicolaus reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday. Mizuho dropped their price objective on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Loop Capital started coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.16.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Onsemi Stock Up 1.7 %

Shares of NASDAQ:ON opened at $50.92 on Friday. The firm has a 50 day simple moving average of $59.01 and a 200-day simple moving average of $66.95. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $21.68 billion, a PE ratio of 12.64, a P/E/G ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, equities analysts predict that Onsemi will post 3.99 EPS 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.