Freedom Investment Management Inc. Sells 8,843 Shares of Onsemi (NASDAQ:ON)

Freedom Investment Management Inc. decreased its holdings in shares of Onsemi (NASDAQ:ON) by 54.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,281 shares of the semiconductor company’s stock after selling 8,843 shares during the period. Freedom Investment Management Inc.’s holdings in Onsemi were worth $529,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi during the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. lifted its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Onsemi during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 target price on the stock. Truist Financial lowered their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Onsemi in a report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective on the stock. Finally, StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This trade represents 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 available through this link. Insiders sold 4,500 shares of company stock worth $321,765 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Onsemi Price Performance

ON opened at $71.12 on Friday. The firm has a market cap of $30.28 billion, a P/E ratio of 17.46, a PEG ratio of 7.54 and a beta of 1.65. The firm has a 50-day moving average of $70.17 and a 200 day moving average of $71.79. 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 has a fifty-two week low of $59.34 and a fifty-two week high of $86.77.

Onsemi (NASDAQ:ON) last issued its 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. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, research analysts expect that Onsemi will post 4 EPS for the current 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.