Westpac Banking Corp Sells 1,735 Shares of Onsemi (NASDAQ:ON)

Westpac Banking Corp decreased its stake in Onsemi (NASDAQ:ON) by 34.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,244 shares of the semiconductor company’s stock after selling 1,735 shares during the quarter. Westpac Banking Corp’s holdings in Onsemi were worth $205,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in shares of Onsemi by 8.9% during the third quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company’s stock worth $1,337,000 after purchasing an additional 1,500 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Onsemi by 4.7% during the third quarter. HighTower Advisors LLC now owns 49,683 shares of the semiconductor company’s stock valued at $3,601,000 after acquiring an additional 2,229 shares during the last quarter. Investment Management Corp of Ontario lifted its holdings in shares of Onsemi by 49.2% during the third quarter. Investment Management Corp of Ontario now owns 14,254 shares of the semiconductor company’s stock worth $1,035,000 after purchasing an additional 4,700 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Onsemi by 19.7% in the third quarter. Integrated Wealth Concepts LLC now owns 4,548 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 750 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in Onsemi by 2.3% in the third quarter. Royal London Asset Management Ltd. now owns 167,578 shares of the semiconductor company’s stock valued at $12,168,000 after purchasing an additional 3,781 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 5.2 %

NASDAQ ON opened at $33.70 on Friday. 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 business has a fifty day simple moving average of $47.20 and a 200 day simple moving average of $60.15. Onsemi has a 12 month low of $33.21 and a 12 month high of $80.08. The firm has a market capitalization of $14.20 billion, a P/E ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48.

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

Analyst Ratings Changes

A number of research firms have commented on ON. JPMorgan Chase & Co. reduced their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. KeyCorp reduced their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Citigroup lowered their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company reduced their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Mizuho lowered their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Two investment 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. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

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.