Sawgrass Asset Management LLC Has $311,000 Stake in Onsemi (NASDAQ:ON)

Sawgrass Asset Management LLC trimmed its holdings in Onsemi (NASDAQ:ON) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,933 shares of the semiconductor company’s stock after selling 226 shares during the period. Sawgrass Asset Management LLC’s holdings in Onsemi were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Greenleaf Trust boosted its position in shares of Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares during the period. Meridian Financial Partners LLC boosted its position in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares during the period. Sentry Investment Management LLC boosted its position in shares of Onsemi by 3.0% during the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after buying an additional 209 shares during the period. CX Institutional boosted its position in shares of Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after buying an additional 232 shares during the period. Finally, Metis Global Partners LLC boosted its position in shares of Onsemi by 1.8% during the third quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock worth $996,000 after buying an additional 237 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ON shares. Benchmark reduced their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday. KeyCorp dropped their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Roth Mkm dropped their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. B. Riley dropped their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, UBS Group dropped their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.16.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Onsemi Price Performance

Shares of NASDAQ ON opened at $50.92 on Friday. The firm has a market cap of $21.68 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. 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 1-year low of $46.57 and a 1-year high of $85.16. The business’s 50 day moving average is $59.01 and its 200-day moving average is $66.95.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Equities research analysts predict that Onsemi will post 3.99 earnings per share 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.