Cornerstone Advisors LLC Lowers Stake in Onsemi (NASDAQ:ON)

Cornerstone Advisors LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 37.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,900 shares of the semiconductor company’s stock after selling 2,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in Onsemi were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi in the 4th quarter valued at about $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in Onsemi in the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC purchased a new position in Onsemi during the fourth quarter worth approximately $33,000. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Onsemi during the 1st quarter valued at $45,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of Onsemi stock traded down $2.90 on Friday, hitting $72.53. The company had a trading volume of 6,339,637 shares, compared to its average volume of 5,154,935. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The company has a market cap of $31.20 billion, a PE ratio of 14.80, a PEG ratio of 3.30 and a beta of 1.69. The business has a 50-day simple moving average of $72.70 and a 200-day simple moving average of $73.37. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. Research analysts expect that Onsemi will post 3.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ON shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a research note on Thursday, June 13th. The Goldman Sachs Group dropped their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. BNP Paribas reaffirmed an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research report on Friday, April 19th. Finally, Rosenblatt Securities reduced their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.36.

Insider Transactions at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is 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.