WealthPLAN Partners LLC Decreases Stake in Onsemi (NASDAQ:ON)

WealthPLAN Partners LLC cut its position in Onsemi (NASDAQ:ON) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,258 shares of the semiconductor company’s stock after selling 5,028 shares during the period. WealthPLAN Partners LLC’s holdings in Onsemi were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ON. Capital Performance Advisors LLP purchased a new position in Onsemi in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi in the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. raised its stake in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi in the fourth quarter valued at $41,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the third quarter valued at $43,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ON. Wells Fargo & Company decreased their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reduced their target price on shares of Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a report on Monday, February 10th. Benchmark dropped their price target on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Trading Up 1.8 %

Shares of ON stock opened at $51.83 on Friday. The stock has a market cap of $22.07 billion, a P/E ratio of 12.86, a P/E/G ratio of 10.27 and a beta of 1.61. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16. The business has a fifty day simple moving average of $58.71 and a 200-day simple moving average of $66.77.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 directly owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

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.