2,000 Shares in Onsemi (NASDAQ:ON) Purchased by West Tower Group LLC

West Tower Group LLC bought a new stake in shares of Onsemi (NASDAQ:ON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000 shares of the semiconductor company’s stock, valued at approximately $145,000.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi in the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. grew its position in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Onsemi in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Mizuho set a $85.00 price target on Onsemi in a research report on Friday, October 18th. BNP Paribas lowered their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Wells Fargo & Company started coverage on Onsemi in a research report on Friday. They issued an “overweight” rating and a $85.00 price objective for the company. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Performance

NASDAQ:ON opened at $72.39 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The stock has a market cap 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 firm’s fifty day simple moving average is $70.25 and its 200-day simple moving average is $71.81.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. Analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.