Onsemi (NASDAQ:ON) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC decreased its position in Onsemi (NASDAQ:ONFree Report) by 49.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,770 shares of the semiconductor company’s stock after selling 12,400 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Onsemi were worth $1,067,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Provence Wealth Management Group purchased a new position in shares of Onsemi in the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Onsemi in the fourth quarter valued at approximately $32,000. Private Wealth Management Group LLC acquired a new stake in Onsemi during the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Onsemi during the 4th quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Onsemi in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Price Performance

Shares of ON traded up $0.91 during trading hours on Friday, reaching $72.56. 5,172,367 shares of the company traded hands, compared to its average volume of 6,723,057. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The stock has a market capitalization of $31.22 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 3.31 and a beta of 1.78. The stock has a fifty day simple moving average of $70.41 and a 200 day simple moving average of $74.34. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ONGet Free Report) last issued its quarterly earnings results 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. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the company earned $1.19 EPS. As a group, research analysts predict that Onsemi will post 3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ON has been the topic of a number of research reports. Truist Financial dropped their price target on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Evercore ISI started coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 target price on the stock. TD Cowen decreased their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, Mizuho decreased their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $90.28.

Read Our Latest Report on ON

About Onsemi

(Free Report)

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.

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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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