Meridian Financial Partners LLC Decreases Stock Holdings in Onsemi (NASDAQ:ON)

Meridian Financial Partners LLC lessened its stake in shares of Onsemi (NASDAQ:ON) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,518 shares of the semiconductor company’s stock after selling 787 shares during the quarter. Meridian Financial Partners LLC’s holdings in Onsemi were worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Onsemi in the third quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi during the 3rd quarter valued at about $33,000. GHP Investment Advisors Inc. increased its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Onsemi in the 3rd quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 42.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock worth $65,000 after buying an additional 269 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Down 1.2 %

Shares of ON opened at $55.18 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. Onsemi has a 1 year low of $53.10 and a 1 year high of $85.16. The business’s 50 day simple moving average is $66.29 and its 200-day simple moving average is $70.11.

Onsemi (NASDAQ:ON) last released its quarterly earnings results 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 company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Onsemi’s revenue was down 19.2% on a year-over-year basis. As a group, equities analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the subject of a number of research reports. KeyCorp reduced their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $87.00 target price on shares of Onsemi in a research report on Tuesday, November 19th. Morgan Stanley boosted their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $83.35.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.