Cox Capital Mgt LLC Invests $963,000 in Onsemi (NASDAQ:ON)

Cox Capital Mgt LLC bought a new position in shares of Onsemi (NASDAQ:ON) during the 2nd quarter, HoldingsChannel reports. The fund bought 14,045 shares of the semiconductor company’s stock, valued at approximately $963,000.

Other large investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Onsemi during the 4th quarter worth $32,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi during the 4th quarter worth $33,000. MeadowBrook Investment Advisors LLC bought a new position in Onsemi in the fourth quarter valued at about $33,000. Westside Investment Management Inc. raised its position in Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Onsemi in the first quarter valued at about $45,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Onsemi news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. Insiders sold a total of 69,850 shares of company stock worth $5,236,119 over the last three months. 0.31% of the stock is owned by insiders.

Onsemi Stock Performance

Shares of NASDAQ ON traded up $2.54 during mid-day trading on Tuesday, hitting $72.91. The company had a trading volume of 5,650,244 shares, compared to its average volume of 7,017,166. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31. Onsemi has a 1 year low of $59.34 and a 1 year high of $101.30. The company has a market capitalization of $31.37 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 3.12 and a beta of 1.69. The stock’s 50-day moving average price is $72.27 and its 200-day moving average price is $72.98.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $1.33 EPS. The company’s revenue was down 17.2% compared to the same quarter last year. On average, sell-side analysts forecast that Onsemi will post 4.01 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on ON. JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Susquehanna raised their price objective on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Bank of America raised their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI started coverage on Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.61.

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.