Wealthspire Advisors LLC Has $228,000 Stock Position in Onsemi (NASDAQ:ON)

Wealthspire Advisors LLC lowered its position in shares of Onsemi (NASDAQ:ON) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,322 shares of the semiconductor company’s stock after selling 188 shares during the quarter. Wealthspire Advisors LLC’s holdings in Onsemi were worth $228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. raised its stake 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 in the last quarter. Fidelis Capital Partners LLC acquired a new position in Onsemi in the first quarter valued at about $45,000. Massmutual Trust Co. FSB ADV raised its stake in 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. International Assets Investment Management LLC acquired a new position in Onsemi in the second quarter valued at about $43,000. Finally, Oakworth Capital Inc. acquired a new position in Onsemi in the second quarter valued at about $53,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ON shares. JPMorgan Chase & Co. boosted their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Susquehanna boosted their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. TD Cowen boosted their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup downgraded Onsemi from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.61.

Onsemi Price Performance

Shares of ON opened at $71.42 on Wednesday. Onsemi has a 52-week low of $59.34 and a 52-week high of $95.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The business’s 50 day moving average price is $73.17 and its two-hundred day moving average price is $72.35. The firm has a market cap of $30.59 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities analysts anticipate that Onsemi will post 4.01 EPS for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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.