Onsemi (NASDAQ:ON) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC cut its position in Onsemi (NASDAQ:ON) by 58.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,719 shares of the semiconductor company’s stock after selling 6,589 shares during the quarter. Westover Capital Advisors LLC’s holdings in Onsemi were worth $394,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ON. International Assets Investment Management LLC raised its stake in shares of Onsemi by 7,749.6% during the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 82,301 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after buying an additional 637 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after buying an additional 4,900 shares in the last quarter. Synergy Asset Management LLC raised its stake in shares of Onsemi by 91.5% during the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after buying an additional 73,909 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new position in shares of Onsemi during the 4th quarter worth approximately $1,137,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Price Performance

ON traded up $1.24 during trading on Thursday, reaching $70.25. The stock had a trading volume of 4,039,807 shares, compared to its average volume of 7,529,484. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 8.39 and a beta of 1.78. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The stock has a 50 day moving average of $72.63 and a two-hundred day moving average of $74.95.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. As a group, equities analysts anticipate that Onsemi will post 4.12 EPS for the current fiscal year.

Analyst Ratings Changes

ON has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. BNP Paribas reaffirmed an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. The Goldman Sachs Group dropped their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.24.

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.