Clear Harbor Asset Management LLC Sells 2,060 Shares of Onsemi (NASDAQ:ON)

Clear Harbor Asset Management LLC cut its stake in Onsemi (NASDAQ:ON) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,125 shares of the semiconductor company’s stock after selling 2,060 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Onsemi were worth $764,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Davis Investment Partners LLC boosted its holdings in Onsemi by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares during the period. Greenleaf Trust boosted its stake in Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares during the period. Meridian Financial Partners LLC grew its position in Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Onsemi by 4.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 206 shares during the last quarter. Finally, Sentry Investment Management LLC raised its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 209 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Up 1.8 %

ON opened at $55.61 on Wednesday. The firm has a market capitalization of $23.68 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 10.36 and a beta of 1.64. Onsemi has a one year low of $53.10 and a one year high of $85.16. The business has a 50 day simple moving average of $64.66 and a two-hundred day simple moving average of $69.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The firm’s revenue was down 19.2% on a year-over-year basis. Analysts predict that Onsemi will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ON. Wells Fargo & Company decreased their price objective on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a report on Tuesday, November 19th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.35.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction 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. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

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.