West Tower Group LLC Takes $145,000 Position in Onsemi (NASDAQ:ON)

West Tower Group LLC acquired a new stake in shares of Onsemi (NASDAQ:ON) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,000 shares of the semiconductor company’s stock, valued at approximately $145,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis Advisors LLC increased its stake in shares of Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after acquiring an additional 18,450 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares in the last quarter. Comerica Bank increased its position in Onsemi by 21.1% during the 1st quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after purchasing an additional 17,198 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in Onsemi during the 2nd quarter worth approximately $1,212,000. Finally, Brighton Jones LLC increased its position in Onsemi by 116.6% during the 3rd quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock worth $1,878,000 after purchasing an additional 13,923 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ON shares. JPMorgan Chase & Co. increased their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company initiated coverage on shares of Onsemi in a research report on Friday. They issued an “overweight” rating and a $85.00 price objective for the company. KeyCorp lowered their price objective on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Onsemi Stock Performance

Shares of ON opened at $72.39 on Tuesday. The business’s fifty day moving average price is $70.25 and its 200 day moving average price is $71.81. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The stock has a market capitalization of $30.82 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. 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 (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. Equities research analysts forecast that Onsemi will post 4 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.