Guinness Atkinson Asset Management Inc Sells 2,239 Shares of Onsemi (NASDAQ:ON)

Guinness Atkinson Asset Management Inc lessened its position in shares of Onsemi (NASDAQ:ON) by 12.9% in the 4th quarter, HoldingsChannel reports. The fund owned 15,074 shares of the semiconductor company’s stock after selling 2,239 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Onsemi were worth $950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Davis Investment Partners LLC boosted its holdings in Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares in the last quarter. Greenleaf Trust grew its position in Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 173 shares during the last quarter. Meridian Financial Partners LLC grew its position in Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 192 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Onsemi by 4.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after buying an additional 206 shares during the period. Finally, Sentry Investment Management LLC grew its holdings 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 valued at $521,000 after buying an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Truist Financial reissued a “hold” rating and issued a $60.00 price target (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. Mizuho set a $85.00 target price on shares of Onsemi in a report on Friday, October 18th. TD Cowen lowered their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average price target of $83.35.

Onsemi Trading Up 2.1 %

Shares of ON stock opened at $54.63 on Monday. Onsemi has a fifty-two week low of $53.10 and a fifty-two week high of $85.16. The firm has a market capitalization of $23.26 billion, a P/E ratio of 13.56, a PEG ratio of 5.29 and a beta of 1.64. The stock’s fifty day moving average is $65.26 and its two-hundred day moving average is $69.75. 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 (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business posted $1.39 earnings per share. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. Research analysts expect that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Onsemi 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.