Westside Investment Management Inc. Purchases 380 Shares of Onsemi (NASDAQ:ON)

Westside Investment Management Inc. grew its position in shares of Onsemi (NASDAQ:ON) by 67.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 940 shares of the semiconductor company’s stock after buying an additional 380 shares during the quarter. Westside Investment Management Inc.’s holdings in Onsemi were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Onsemi in the third quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi during the third quarter worth approximately $33,000. GHP Investment Advisors Inc. grew its stake in shares of Onsemi by 12,850.0% during 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 during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Onsemi in the second quarter valued at approximately $43,000. Finally, Safe Harbor Fiduciary LLC bought a new position in Onsemi in the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 4,500 shares of company stock worth $321,765 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Robert W. Baird lifted their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 target price on the stock. Benchmark reissued a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Performance

Shares of ON opened at $67.11 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The firm has a fifty day simple moving average of $69.56 and a 200 day simple moving average of $71.43. The stock has a market capitalization of $28.58 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 7.29 and a beta of 1.63.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company earned $1.39 EPS. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. Research analysts forecast that Onsemi will post 4 EPS for the current fiscal 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.