Lake Street Private Wealth LLC Has $277,000 Holdings in Onsemi (NASDAQ:ON)

Lake Street Private Wealth LLC cut its holdings in Onsemi (NASDAQ:ON) by 78.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,760 shares of the semiconductor company’s stock after selling 13,562 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Onsemi were worth $277,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Apollon Wealth Management LLC boosted its stake in shares of Onsemi by 26.4% during the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after purchasing an additional 1,482 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 82,301 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after purchasing an additional 35,362 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Onsemi by 7.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after purchasing an additional 637 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $72.68 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The stock’s 50 day moving average is $71.56 and its 200-day moving average is $74.09. The firm has a market capitalization of $31.27 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 3.31 and a beta of 1.69.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. Onsemi’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. Sell-side analysts forecast that Onsemi will post 3.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ON shares. TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Rosenblatt Securities reduced their target price on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on Onsemi in a report on Monday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, BNP Paribas reiterated an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Insider Activity at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the transaction, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.