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

Geneos Wealth Management Inc. reduced its stake in Onsemi (NASDAQ:ON) by 23.2% in the 4th quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ON. Exchange Traded Concepts LLC grew its holdings in shares of Onsemi by 10.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,129 shares of the semiconductor company’s stock valued at $260,000 after purchasing an additional 375 shares during the period. Inspire Investing LLC boosted its holdings in Onsemi by 3.0% in the 4th quarter. Inspire Investing LLC now owns 56,966 shares of the semiconductor company’s stock valued at $3,592,000 after purchasing an additional 1,639 shares during the last quarter. Atwood & Palmer Inc. grew its stake in shares of Onsemi by 0.9% in the 4th quarter. Atwood & Palmer Inc. now owns 282,111 shares of the semiconductor company’s stock valued at $17,787,000 after buying an additional 2,455 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $5,644,000. Finally, Shelton Wealth Management LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at approximately $951,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on ON. Needham & Company LLC reissued a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. BNP Paribas lowered their target price on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Finally, TD Cowen lowered their price objective 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. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.70.

Onsemi Stock Performance

Shares of ON stock opened at $52.34 on Friday. The company has a market cap of $22.29 billion, a P/E ratio of 12.99, a PEG ratio of 10.30 and a beta of 1.64. The firm has a fifty day moving average price of $62.57 and a 200 day moving average price of $68.40. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 12 month low of $51.81 and a 12 month high of $85.16.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

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.