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

Westpac Banking Corp reduced its holdings in Onsemi (NASDAQ:ON) by 34.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,244 shares of the semiconductor company’s stock after selling 1,735 shares during the period. Westpac Banking Corp’s holdings in Onsemi were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi in the fourth quarter valued at about $41,000. Synergy Asset Management LLC acquired a new position in shares of Onsemi during the 4th quarter worth approximately $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi in the 4th quarter valued at approximately $51,000. Rakuten Securities Inc. grew its stake in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in Onsemi by 67.9% during the third quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock worth $68,000 after buying an additional 380 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Onsemi Trading Down 5.2 %

ON opened at $33.70 on Friday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a twelve month low of $33.21 and a twelve month high of $80.08. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 16.74 and a beta of 1.48. The company has a 50-day simple moving average of $47.20 and a 200 day simple moving average of $60.15.

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

Wall Street Analyst Weigh In

ON has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley reduced their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Benchmark cut their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. UBS Group decreased their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, B. Riley cut their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Onsemi has a consensus 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.