TCW Group Inc. Decreases Stake in Onsemi (NASDAQ:ON)

TCW Group Inc. reduced its position in Onsemi (NASDAQ:ON - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,596 shares of the semiconductor company's stock after selling 14,754 shares during the period. TCW Group Inc. owned 0.13% of Onsemi worth $47,421,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC lifted its position in shares of Onsemi by 7.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company's stock worth $206,000 after buying an additional 177 shares in the last quarter. STF Management LP raised its position in Onsemi by 2.5% during the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company's stock valued at $602,000 after purchasing an additional 178 shares during the period. Quent Capital LLC raised its position in Onsemi by 25.3% during the fourth quarter. Quent Capital LLC now owns 980 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 198 shares during the period. Wealthspire Advisors LLC raised its position in Onsemi by 6.2% during the third quarter. Wealthspire Advisors LLC now owns 3,408 shares of the semiconductor company's stock valued at $317,000 after purchasing an additional 199 shares during the period. Finally, Signaturefd LLC raised its position in Onsemi by 3.0% during the third quarter. Signaturefd LLC now owns 7,190 shares of the semiconductor company's stock valued at $668,000 after purchasing an additional 209 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Paul Anthony Mascarenas sold 911 shares of the company's stock in a transaction dated 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 $3,643,253.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company's stock.

Onsemi Stock Down 6.1 %

Shares of ON stock traded down $4.64 during mid-day trading on Thursday, hitting $71.65. 9,590,891 shares of the stock traded hands, compared to its average volume of 7,271,522. The stock has a market cap of $30.83 billion, a P/E ratio of 14.62, a P/E/G ratio of 3.32 and a beta of 1.78. The stock's fifty day moving average is $70.46 and its two-hundred day moving average is $74.19. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company's quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Equities analysts predict that Onsemi will post 3.83 EPS for the current year.

Wall Street Analyst Weigh In

ON has been the topic of a number of recent research reports. StockNews.com upgraded Onsemi from a "sell" rating to a "hold" rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price objective on Onsemi from $95.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 6th. B. Riley reaffirmed a "buy" rating and set a $103.00 target price (down previously from $115.00) on shares of Onsemi in a research note on Tuesday, April 30th. Rosenblatt Securities decreased their price target on Onsemi from $75.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group reduced their target price on Onsemi from $91.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.28.

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.