Lifestyle Asset Management Inc. Has $929,000 Position in Onsemi (NASDAQ:ON)

Lifestyle Asset Management Inc. trimmed its holdings in Onsemi (NASDAQ:ON) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,637 shares of the semiconductor company’s stock after selling 504 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Onsemi were worth $929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. BluePath Capital Management LLC grew its holdings in Onsemi by 61.8% in the first quarter. BluePath Capital Management LLC now owns 5,547 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 2,118 shares during the period. Graphene Investments SAS increased its position in Onsemi by 20.2% in the 1st quarter. Graphene Investments SAS now owns 39,800 shares of the semiconductor company’s stock valued at $2,927,000 after buying an additional 6,700 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Onsemi during the 1st quarter worth approximately $1,068,000. Allspring Global Investments Holdings LLC boosted its holdings in Onsemi by 6.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,493,408 shares of the semiconductor company’s stock worth $183,390,000 after acquiring an additional 157,433 shares in the last quarter. Finally, Capital Insight Partners LLC increased its holdings in shares of Onsemi by 9.7% during the first quarter. Capital Insight Partners LLC now owns 57,733 shares of the semiconductor company’s stock valued at $4,246,000 after acquiring an additional 5,084 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 0.3 %

Shares of NASDAQ:ON traded down $0.24 on Wednesday, reaching $72.68. 3,906,417 shares of the company traded hands, compared to its average volume of 6,833,691. 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 business’s 50-day simple moving average is $71.44 and its 200 day simple moving average is $74.10. The stock has a market capitalization of $31.27 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price target 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. TD Cowen dropped their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company reduced their price objective on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Truist Financial dropped their target price on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, B. Riley reaffirmed a “buy” rating and issued a $103.00 target price (down from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.28.

Insider Buying and Selling

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s 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 in the company, valued at $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 completion of the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.