Federated Investors Inc. PA boosted its position in shares of ON Semiconductor Corp (NASDAQ:ON) by 81.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,061 shares of the semiconductor company’s stock after purchasing an additional 29,612 shares during the period. Federated Investors Inc. PA’s holdings in ON Semiconductor were worth $1,470,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC acquired a new position in shares of ON Semiconductor in the 2nd quarter worth approximately $109,000. Point72 Asia Hong Kong Ltd boosted its holdings in shares of ON Semiconductor by 9,749.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,826 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 4,777 shares in the last quarter. Psagot Investment House Ltd. acquired a new position in shares of ON Semiconductor in the 2nd quarter worth approximately $123,000. Cerebellum GP LLC acquired a new position in shares of ON Semiconductor in the 2nd quarter worth approximately $170,000. Finally, New Jersey Better Educational Savings Trust acquired a new position in shares of ON Semiconductor in the 2nd quarter worth approximately $222,000. 92.30% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $21.44, for a total transaction of $26,028.16. Following the transaction, the insider now directly owns 18,357 shares of the company’s stock, valued at $393,574.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vince Craig Hopkin sold 3,172 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $21.66, for a total transaction of $68,705.52. Following the transaction, the executive vice president now directly owns 84,114 shares in the company, valued at $1,821,909.24. The disclosure for this sale can be found here. Insiders sold a total of 39,494 shares of company stock valued at $768,883 over the last quarter. 1.29% of the stock is currently owned by company insiders.
Several research analysts have issued reports on the company. BidaskClub raised ON Semiconductor from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Raymond James cut shares of ON Semiconductor from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Tuesday, September 25th. Zacks Investment Research cut shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Morgan Stanley cut shares of ON Semiconductor from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $20.00 to $18.50 in a research report on Thursday, August 9th. Finally, KeyCorp began coverage on shares of ON Semiconductor in a research report on Tuesday, September 25th. They issued a “sector weight” rating and a $16.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.96.
Shares of ON Semiconductor stock traded up $0.29 during trading hours on Friday, reaching $16.65. 5,966,407 shares of the company’s stock were exchanged, compared to its average volume of 6,706,193. ON Semiconductor Corp has a fifty-two week low of $16.05 and a fifty-two week high of $27.10. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.76 and a beta of 2.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 0.91.
ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts expect that ON Semiconductor Corp will post 1.84 earnings per share for the current year.
About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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