Onsemi (NASDAQ:ON) Shares Acquired by West Tower Group LLC

West Tower Group LLC lifted its stake in shares of Onsemi (NASDAQ:ON) by 75.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the semiconductor company’s stock after purchasing an additional 1,500 shares during the period. West Tower Group LLC’s holdings in Onsemi were worth $221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in shares of Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the last quarter. Cinctive Capital Management LP acquired a new position in Onsemi in the third quarter valued at approximately $1,270,000. Blue Trust Inc. lifted its holdings in Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 1,119 shares during the last quarter. Oak Thistle LLC acquired a new position in Onsemi in the fourth quarter valued at approximately $515,000. Finally, Deltec Asset Management LLC acquired a new position in Onsemi in the fourth quarter valued at approximately $6,343,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

Shares of ON stock opened at $43.42 on Wednesday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $50.80 and a 200 day moving average price of $62.65. The company has a market cap of $18.30 billion, a P/E ratio of 11.96, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ON has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group decreased their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus decreased their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Benchmark cut their target price on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.85.

Onsemi 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.