Axxcess Wealth Management LLC Makes New $808,000 Investment in Onsemi (NASDAQ:ON)

Axxcess Wealth Management LLC acquired a new stake in Onsemi (NASDAQ:ON) 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.

Onsemi (NASDAQ:ON) last issued 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 firm 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 for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, research analysts anticipate that Onsemi will post 4.02 EPS for the current year.

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.