MGB Wealth Management LLC Sells 8,117 Shares of Onsemi (NASDAQ:ON)

MGB Wealth Management LLC lowered its position in Onsemi (NASDAQ:ON) by 57.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,118 shares of the semiconductor company’s stock after selling 8,117 shares during the period. MGB Wealth Management LLC’s holdings in Onsemi were worth $388,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Nordea Investment Management AB lifted its holdings in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after buying an additional 82,614 shares in the last quarter. Natixis Advisors LLC lifted its stake in Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after purchasing an additional 18,450 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in Onsemi in the 3rd quarter worth $1,270,000. Blue Trust Inc. boosted its holdings in shares of Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Onsemi during the fourth quarter valued at about $515,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ON shares. BNP Paribas cut their target price on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Roth Mkm dropped their price objective on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday. Craig Hallum reduced their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday. Benchmark lowered their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Truist Financial reduced their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Insider Buying and Selling at Onsemi

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

Onsemi Trading Up 4.4 %

NASDAQ ON opened at $50.06 on Thursday. Onsemi has a 12-month low of $46.57 and a 12-month high of $85.16. The company has a fifty day simple moving average of $59.30 and a two-hundred day simple moving average of $67.06. 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 stock has a market cap of $21.32 billion, a P/E ratio of 12.42, a P/E/G ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data 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, analysts forecast that Onsemi will post 3.99 earnings per share for the current year.

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.