Venturi Wealth Management LLC Cuts Stake in Onsemi (NASDAQ:ON)

Venturi Wealth Management LLC lessened its stake in Onsemi (NASDAQ:ON) by 25.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 534 shares of the semiconductor company’s stock after selling 181 shares during the quarter. Venturi Wealth Management LLC’s holdings in Onsemi were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ON. Capital Performance Advisors LLP purchased a new position in Onsemi in the third quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in Onsemi in the 3rd quarter worth approximately $33,000. GHP Investment Advisors Inc. raised its holdings in Onsemi by 12,850.0% in 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 during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Onsemi in the 2nd quarter worth $43,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of Onsemi stock opened at $64.76 on Friday. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 7.34 and a beta of 1.65. 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 stock’s 50-day simple moving average is $70.43 and its 200-day simple moving average is $71.86. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on ON shares. Deutsche Bank Aktiengesellschaft upped their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America lifted their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Finally, TD Cowen lowered their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 in the company, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by 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.