B. Riley Wealth Advisors Inc. Cuts Stock Position in Onsemi (NASDAQ:ON)

B. Riley Wealth Advisors Inc. trimmed its holdings in Onsemi (NASDAQ:ON) by 9.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,152 shares of the semiconductor company’s stock after selling 512 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Onsemi were worth $430,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Apollon Wealth Management LLC lifted its stake in Onsemi by 26.4% in the 4th quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock worth $592,000 after purchasing an additional 1,482 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Onsemi by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after buying an additional 35,362 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after acquiring an additional 637 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after acquiring an additional 4,900 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. BNP Paribas reissued an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a research note on Thursday, June 13th. TD Cowen cut their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Truist Financial lowered their price target on Onsemi from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.28.

Onsemi Price Performance

ON opened at $67.79 on Tuesday. The firm has a market capitalization of $29.17 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 3.08 and a beta of 1.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The business’s 50-day moving average is $70.51 and its two-hundred day moving average is $74.62. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts anticipate that Onsemi will post 3.83 earnings per share for the current fiscal year.

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.