Van ECK Associates Corp Lowers Holdings in Onsemi (NASDAQ:ON)

Van ECK Associates Corp lessened its stake in shares of Onsemi (NASDAQ:ON) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,430,628 shares of the semiconductor company’s stock after selling 64,428 shares during the quarter. Van ECK Associates Corp owned approximately 0.81% of Onsemi worth $216,301,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Equitable Trust Co. acquired a new position in Onsemi in the 4th quarter worth about $1,548,000. Savant Capital LLC increased its holdings in Onsemi by 9.9% in the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 297 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Onsemi in the 4th quarter valued at about $41,000. Finally, Empowered Funds LLC boosted its stake in shares of Onsemi by 288.9% in the fourth quarter. Empowered Funds LLC now owns 160,770 shares of the semiconductor company’s stock worth $10,137,000 after acquiring an additional 119,428 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ON shares. Roth Mkm decreased their price objective on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Friday, February 7th. Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Tuesday. The Goldman Sachs Group decreased their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday. Finally, UBS Group dropped their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Stock Up 4.4 %

NASDAQ ON opened at $50.06 on Thursday. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16. The stock has a fifty day moving average of $59.30 and a 200-day moving average of $67.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market capitalization of $21.32 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, equities research analysts forecast that Onsemi will post 3.99 EPS for the current year.

About Onsemi

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.