Procyon Advisors LLC Sells 634 Shares of Onsemi (NASDAQ:ON)

Procyon Advisors LLC lowered its position in Onsemi (NASDAQ:ON) by 13.4% during the 4th quarter, HoldingsChannel reports. The firm owned 4,085 shares of the semiconductor company’s stock after selling 634 shares during the period. Procyon Advisors LLC’s holdings in Onsemi were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in Onsemi by 20.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 722 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Onsemi by 14.8% during the 4th quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company’s stock valued at $599,000 after buying an additional 1,221 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Onsemi during the 4th quarter worth $515,000. Bar Harbor Wealth Management grew its position in Onsemi by 5.7% in the fourth quarter. Bar Harbor Wealth Management now owns 33,987 shares of the semiconductor company’s stock worth $2,143,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Czech National Bank raised its position in Onsemi by 5.8% during the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company’s stock valued at $5,821,000 after purchasing an additional 5,062 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 2.1 %

Shares of ON opened at $54.63 on Monday. Onsemi has a 1-year low of $53.10 and a 1-year high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $65.26 and its 200-day moving average price is $69.75. The firm has a market capitalization of $23.26 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 5.29 and a beta of 1.64.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm posted $1.39 EPS. The business’s revenue was down 19.2% on a year-over-year basis. Sell-side analysts anticipate that Onsemi will post 3.99 EPS for the current year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s 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 sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ON shares. TD Cowen reduced their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. BNP Paribas reduced their price target on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Loop Capital started coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective for the company. Morgan Stanley increased their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, KeyCorp lowered their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.35.

Onsemi Company 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.