Geneos Wealth Management Inc. Cuts Holdings in Onsemi (NASDAQ:ON)

Geneos Wealth Management Inc. lowered its stake in shares of Onsemi (NASDAQ:ON) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 828 shares of the semiconductor company’s stock after selling 250 shares during the period. Geneos Wealth Management Inc.’s holdings in Onsemi were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Exchange Traded Concepts LLC grew its position in shares of Onsemi by 10.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,129 shares of the semiconductor company’s stock worth $260,000 after buying an additional 375 shares during the last quarter. Inspire Investing LLC grew its holdings in Onsemi by 3.0% in the fourth quarter. Inspire Investing LLC now owns 56,966 shares of the semiconductor company’s stock worth $3,592,000 after purchasing an additional 1,639 shares during the last quarter. Atwood & Palmer Inc. increased its position in shares of Onsemi by 0.9% during the fourth quarter. Atwood & Palmer Inc. now owns 282,111 shares of the semiconductor company’s stock worth $17,787,000 after purchasing an additional 2,455 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Onsemi during the 4th quarter valued at $5,644,000. Finally, Shelton Wealth Management LLC acquired a new stake in shares of Onsemi in the 4th quarter worth $951,000. 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 analyst reports. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Wells Fargo & Company lowered their target price on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. BNP Paribas cut their price target on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Robert W. Baird upped their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two equities 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.70.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Onsemi Trading Down 1.7 %

Shares of Onsemi stock opened at $52.34 on Friday. Onsemi has a fifty-two week low of $51.81 and a fifty-two week high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company has a market cap of $22.29 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 10.30 and a beta of 1.64. The firm has a 50-day simple moving average of $62.57 and a two-hundred day simple moving average of $68.40.

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.