Westover Capital Advisors LLC Has $394,000 Stock Position in Onsemi (NASDAQ:ON)

Westover Capital Advisors LLC decreased its position in Onsemi (NASDAQ:ON) by 58.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,719 shares of the semiconductor company’s stock after selling 6,589 shares during the period. Westover Capital Advisors LLC’s holdings in Onsemi were worth $394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ON. Exchange Traded Concepts LLC lifted its position in Onsemi by 199.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock valued at $378,000 after acquiring an additional 2,707 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in Onsemi by 16.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock worth $272,000 after buying an additional 410 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Onsemi by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after buying an additional 4,741 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Onsemi by 7.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock worth $4,546,000 after buying an additional 3,200 shares in the last quarter. Finally, Xponance Inc. lifted its position in Onsemi by 1.8% during the 3rd quarter. Xponance Inc. now owns 51,584 shares of the semiconductor company’s stock worth $4,795,000 after buying an additional 921 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of NASDAQ:ON traded up $1.24 on Thursday, reaching $70.25. 4,039,807 shares of the company’s stock were exchanged, compared to its average volume of 7,529,484. The company has a fifty day moving average of $72.63 and a 200-day moving average of $74.95. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a market capitalization of $30.22 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 8.39 and a beta of 1.78. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. On average, research analysts predict that Onsemi will post 4.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna cut their price target on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Tuesday. Benchmark cut their price target on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday. BNP Paribas restated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. B. Riley restated a “buy” rating and set a $103.00 price objective (down from $115.00) on shares of Onsemi in a research note on Tuesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Company 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.