ON Semiconductor Corporation (NASDAQ:ON) Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC raised its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,641 shares of the semiconductor company’s stock after acquiring an additional 3,180 shares during the period. Western Wealth Management LLC’s holdings in ON Semiconductor were worth $514,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Elequin Capital LP grew its stake in shares of ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in ON Semiconductor during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC grew its position in ON Semiconductor by 83.3% in the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. Plato Investment Management Ltd acquired a new position in ON Semiconductor in the 4th quarter valued at about $51,000. Finally, Rakuten Securities Inc. increased its stake in ON Semiconductor by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 691 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ON shares. Loop Capital lowered their price objective on shares of ON Semiconductor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. UBS Group reduced their target price on shares of ON Semiconductor from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $42.00 price target on shares of ON Semiconductor in a research report on Tuesday, May 6th. KGI Securities started coverage on ON Semiconductor in a research report on Friday, May 23rd. They set a “neutral” rating on the stock. Finally, Morgan Stanley began coverage on ON Semiconductor in a report on Monday, May 12th. They issued an “equal weight” rating and a $39.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.08.

ON Semiconductor Stock Down 1.3%

ON stock opened at $52.93 on Friday. The stock has a market cap of $22.12 billion, a P/E ratio of 36.76, a PEG ratio of 4.37 and a beta of 1.39. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $80.08. The company’s 50 day moving average is $45.39 and its two-hundred day moving average is $48.84.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $1.08 EPS. ON Semiconductor’s revenue for the quarter was down 22.4% compared to the same quarter last year. Research analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

About ON Semiconductor

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.