Bar Harbor Wealth Management Has $865,000 Position in Onsemi (NASDAQ:ON)

Bar Harbor Wealth Management trimmed its holdings in Onsemi (NASDAQ:ON - Free Report) by 37.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,268 shares of the semiconductor company's stock after selling 12,719 shares during the period. Bar Harbor Wealth Management's holdings in Onsemi were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Elequin Capital LP raised its holdings in shares of Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Onsemi during the 4th quarter worth about $43,000. Plato Investment Management Ltd purchased a new position in Onsemi in the fourth quarter worth approximately $51,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Onsemi by 69.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock valued at $51,000 after buying an additional 518 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 691 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ON. Morgan Stanley assumed coverage on Onsemi in a research note on Monday, May 12th. They set an "equal weight" rating and a $39.00 price target on the stock. Loop Capital decreased their price target on Onsemi from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. UBS Group reduced their target price on Onsemi from $55.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Mizuho lowered their price objective on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Finally, Wells Fargo & Company cut their target price on Onsemi from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.12.

Onsemi Trading Down 3.7%

Shares of NASDAQ ON traded down $1.96 during trading on Friday, hitting $51.02. 9,656,841 shares of the company were exchanged, compared to its average volume of 8,159,806. The company has a fifty day moving average price of $41.86 and a 200-day moving average price of $49.92. The firm has a market capitalization of $21.32 billion, a PE ratio of 14.06, a P/E/G ratio of 16.74 and a beta of 1.39. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $1.08 EPS. Onsemi's revenue for the quarter was down 22.4% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 2.6 EPS for the current 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.