MGB Wealth Management LLC Sells 1,017 Shares of Onsemi (NASDAQ:ON)

MGB Wealth Management LLC trimmed its position in Onsemi (NASDAQ:ON) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,235 shares of the semiconductor company’s stock after selling 1,017 shares during the quarter. MGB Wealth Management LLC’s holdings in Onsemi were worth $1,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares during the last quarter. Van ECK Associates Corp grew its stake in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after buying an additional 380,471 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after buying an additional 31,889 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ON. Bank of America upped their price target on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research note on Tuesday, November 19th. KeyCorp decreased their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Mizuho set a $85.00 target price on shares of Onsemi in a research report on Friday, October 18th. Finally, Wells Fargo & Company began coverage on shares of Onsemi in a research report on Friday. They set an “overweight” rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $69.62 on Friday. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 7.34 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a 50 day simple moving average of $70.21 and a 200 day simple moving average of $71.79. Onsemi has a one year low of $59.34 and a one year high of $86.77.

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