Apollon Wealth Management LLC Reduces Stock Position in Onsemi (NASDAQ:ON)

Apollon Wealth Management LLC cut its holdings in shares of Onsemi (NASDAQ:ON) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,168 shares of the semiconductor company’s stock after selling 484 shares during the quarter. Apollon Wealth Management LLC’s holdings in Onsemi were worth $641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in shares of Onsemi by 675.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock valued at $273,000 after acquiring an additional 3,270 shares during the last quarter. CX Institutional boosted its position in Onsemi by 5.2% during the 3rd quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 232 shares during the period. Creative Planning boosted its position in Onsemi by 35.9% during the 3rd quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock valued at $2,170,000 after purchasing an additional 7,888 shares during the period. Bleakley Financial Group LLC boosted its position in Onsemi by 10.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,838 shares of the semiconductor company’s stock valued at $497,000 after purchasing an additional 641 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Onsemi by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 44,238 shares of the semiconductor company’s stock worth $3,212,000 after acquiring an additional 551 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ON shares. JPMorgan Chase & Co. reduced their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday. Roth Mkm cut their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company cut their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Needham & Company LLC cut their target price on Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.16.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $50.06 on Thursday. The business’s 50-day moving average price is $59.30 and its two-hundred day moving average price is $67.06. 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 has a one year low of $46.57 and a one year high of $85.16. The company has a market capitalization of $21.32 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Analysts anticipate that Onsemi will post 3.99 earnings per share for the current fiscal year.

About Onsemi

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.