Axxcess Wealth Management LLC acquired a new stake in Onsemi (NASDAQ:ON – Free Report) during the first quarter, Holdings Channel.com reports. The firm acquired 10,986 shares of the semiconductor company’s stock, valued at approximately $808,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Onsemi in the fourth quarter worth $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the 4th quarter valued at approximately $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the 4th quarter valued at approximately $33,000. Westside Investment Management Inc. boosted its position in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Onsemi in the 1st quarter worth approximately $45,000. 97.70% of the stock is owned by institutional investors.
Onsemi Stock Performance
Shares of Onsemi stock traded up $2.63 on Friday, hitting $70.17. The stock had a trading volume of 7,755,073 shares, compared to its average volume of 6,796,082. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock has a market cap of $30.19 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 3.04 and a beta of 1.69. The company’s 50 day moving average price is $72.61 and its 200 day moving average price is $73.26.
Insiders Place Their Bets
In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ON shares. Jefferies Financial Group began coverage on shares of Onsemi in a research note on Monday, May 13th. They set a “buy” rating and a $100.00 target price for the company. Benchmark dropped their price objective on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Morgan Stanley downgraded shares of Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $70.00 to $65.00 in a report on Thursday, July 11th. Wells Fargo & Company reduced their price objective on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.36.
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.
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