Onsemi (NASDAQ:ON) Shares Sold by TCW Group Inc.

TCW Group Inc. cut its position in Onsemi (NASDAQ:ON) by 13.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 288,042 shares of the semiconductor company’s stock after selling 45,540 shares during the period. TCW Group Inc.’s holdings in Onsemi were worth $20,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Onsemi in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Onsemi in the third quarter valued at $33,000. GHP Investment Advisors Inc. increased its holdings 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 purchasing an additional 514 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi in the 3rd quarter valued at about $43,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Onsemi in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ON. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird increased their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and issued a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Finally, BNP Paribas reduced their price objective on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.87.

Onsemi Stock Down 2.0 %

Shares of NASDAQ:ON opened at $66.34 on Wednesday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $69.70 and its 200-day simple moving average is $71.49. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 7.13 and a beta of 1.63.

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

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’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 owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,500 shares of company stock valued at $321,765 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.