Freedom Investment Management Inc. Has $529,000 Holdings in Onsemi (NASDAQ:ON)

Freedom Investment Management Inc. lessened its holdings in shares of Onsemi (NASDAQ:ON) by 54.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,281 shares of the semiconductor company’s stock after selling 8,843 shares during the quarter. Freedom Investment Management Inc.’s holdings in Onsemi were worth $529,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC increased its position in Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after buying an additional 18,450 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after buying an additional 88,496 shares during the last quarter. Comerica Bank increased its stake in shares of Onsemi by 21.1% during the first quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after purchasing an additional 17,198 shares during the period. Deltec Asset Management LLC acquired a new stake in Onsemi during the 2nd quarter worth approximately $1,212,000. Finally, Brighton Jones LLC boosted its stake in Onsemi by 116.6% in the 3rd quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after purchasing an additional 13,923 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,500 shares of company stock valued at $321,765 over the last 90 days. 0.31% of the stock is owned by insiders.

Onsemi Stock Up 1.1 %

Shares of NASDAQ:ON opened at $71.12 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a market capitalization of $30.28 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 7.54 and a beta of 1.65. The company has a fifty day moving average of $70.17 and a 200-day moving average of $71.79.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $1.39 EPS. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. On average, equities analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ON shares. KeyCorp lowered their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. 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 research report on Tuesday, October 29th. Finally, BNP Paribas reduced their price target on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $85.87.

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.