Westside Investment Management Inc. Has $41,000 Stake in Onsemi (NASDAQ:ON)

Westside Investment Management Inc. boosted its holdings in shares of Onsemi (NASDAQ:ON) by 5,500.0% in the first quarter, HoldingsChannel reports. The firm owned 560 shares of the semiconductor company’s stock after acquiring an additional 550 shares during the period. Westside Investment Management Inc.’s holdings in Onsemi were worth $41,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ON. Integrated Advisors Network LLC increased its stake in shares of Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after buying an additional 164 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 177 shares during the last quarter. STF Management LP lifted its holdings in Onsemi by 2.5% during the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after acquiring an additional 178 shares in the last quarter. Quent Capital LLC lifted its holdings in Onsemi by 25.3% during the fourth quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 198 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Onsemi by 2.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,539 shares of the semiconductor company’s stock worth $713,000 after acquiring an additional 213 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ON shares. Needham & Company LLC reissued a “buy” rating and issued a $92.00 price target on shares of Onsemi in a research note on Thursday, June 13th. 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. Wells Fargo & Company lowered their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Jefferies Financial Group began coverage on Onsemi in a research report on Monday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Evercore ISI began coverage on Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.28.

Onsemi Trading Down 0.3 %

Shares of ON stock opened at $72.68 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock has a market cap of $31.27 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 3.31 and a beta of 1.69. The stock has a 50 day simple moving average of $71.56 and a 200 day simple moving average of $74.09. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, research analysts predict that Onsemi will post 3.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was 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 of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.