Rothschild & Co. Asset Management US Inc. cut its position in shares of ON Semiconductor Co. (NASDAQ:ON) by 48.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,156,819 shares of the semiconductor company’s stock after selling 1,082,689 shares during the quarter. Rothschild & Co. Asset Management US Inc. owned 0.28% of ON Semiconductor worth $25,091,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of ON. Teacher Retirement System of Texas increased its stake in ON Semiconductor by 73.9% during the third quarter. Teacher Retirement System of Texas now owns 23,476 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 9,975 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of ON Semiconductor by 8.3% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 81,691 shares of the semiconductor company’s stock valued at $1,619,000 after purchasing an additional 6,295 shares during the period. Arizona State Retirement System grew its stake in shares of ON Semiconductor by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 95,753 shares of the semiconductor company’s stock valued at $1,898,000 after purchasing an additional 1,234 shares during the period. IBM Retirement Fund bought a new stake in shares of ON Semiconductor in the 3rd quarter valued at approximately $286,000. Finally, IFM Investors Pty Ltd grew its stake in shares of ON Semiconductor by 8.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 32,366 shares of the semiconductor company’s stock valued at $702,000 after purchasing an additional 2,577 shares during the period. Institutional investors own 99.53% of the company’s stock.
Several research firms have recently weighed in on ON. Morgan Stanley upped their price objective on ON Semiconductor from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Monday, October 5th. Jefferies Financial Group boosted their target price on ON Semiconductor from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, October 9th. Rosenblatt Securities boosted their target price on ON Semiconductor from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wells Fargo & Company reissued a “hold” rating on shares of ON Semiconductor in a report on Tuesday, August 11th. Finally, Needham & Company LLC boosted their target price on ON Semiconductor from $30.00 to $33.00 and gave the stock a “strong-buy” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $25.02.
Shares of ON stock traded down $0.30 during trading hours on Tuesday, reaching $28.28. The company had a trading volume of 158,584 shares, compared to its average volume of 8,421,517. The company has a 50 day moving average of $25.33 and a 200 day moving average of $21.06. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.35 and a quick ratio of 1.62. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of -714.32, a P/E/G ratio of 29.90 and a beta of 2.14. ON Semiconductor Co. has a 1-year low of $8.17 and a 1-year high of $28.80.
ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Saturday, October 31st. The semiconductor company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.08. ON Semiconductor had a negative net margin of 0.37% and a positive return on equity of 10.85%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that ON Semiconductor Co. will post 0.66 EPS for the current fiscal year.
In related news, CEO Keith D. Jackson sold 600,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $25.76, for a total value of $15,456,000.00. Following the completion of the sale, the chief executive officer now owns 2,168,458 shares in the company, valued at approximately $55,859,478.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bernard Gutmann sold 99,144 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $27.06, for a total transaction of $2,682,836.64. Following the completion of the sale, the chief financial officer now owns 555,242 shares of the company’s stock, valued at approximately $15,024,848.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,062,051 shares of company stock valued at $26,801,898. 1.42% of the stock is owned by corporate insiders.
ON Semiconductor Profile
ON Semiconductor Corporation, together with its subsidiaries, manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group (PSG), Advanced Solutions Group (ASG), and Intelligent Sensing Group (ISG). The PSG segment offers analog, discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions.
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