Hennessy Advisors Inc. Decreases Holdings in Onsemi (NASDAQ:ON)

Hennessy Advisors Inc. cut its position in shares of Onsemi (NASDAQ:ON) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,600 shares of the semiconductor company’s stock after selling 1,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in Onsemi were worth $2,118,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Onsemi during the third quarter worth $33,000. GHP Investment Advisors Inc. raised its holdings in shares of Onsemi by 12,850.0% in the third 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. Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi in the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 42.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 269 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Up 2.1 %

NASDAQ ON opened at $54.63 on Friday. The stock has a market cap of $23.26 billion, a P/E ratio of 13.56, a PEG ratio of 5.29 and a beta of 1.64. The company’s fifty day simple moving average is $65.26 and its 200-day simple moving average is $69.77. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 52 week low of $53.10 and a 52 week high of $85.16.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The firm’s revenue was down 19.2% compared to the same quarter last year. Equities research analysts predict that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the 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 transaction, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ON has been the topic of a number of recent research reports. Loop Capital started coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $87.00 target price on shares of Onsemi in a research report on Tuesday, November 19th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Truist Financial restated a “hold” rating and set a $60.00 price objective (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Finally, TD Cowen dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.35.

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.