Optimum Investment Advisors cut its stake in ON Semiconductor Corp (NASDAQ:ON) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,515 shares of the semiconductor company’s stock after selling 1,235 shares during the period. Optimum Investment Advisors’ holdings in ON Semiconductor were worth $644,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ON. Commerzbank Aktiengesellschaft FI increased its stake in ON Semiconductor by 5.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 25,612 shares of the semiconductor company’s stock valued at $492,000 after purchasing an additional 1,364 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of ON Semiconductor by 18.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,313 shares of the semiconductor company’s stock worth $428,000 after acquiring an additional 3,477 shares during the last quarter. DNB Asset Management AS grew its position in shares of ON Semiconductor by 2.2% during the third quarter. DNB Asset Management AS now owns 106,171 shares of the semiconductor company’s stock worth $2,040,000 after acquiring an additional 2,292 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of ON Semiconductor by 0.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 88,517 shares of the semiconductor company’s stock worth $1,789,000 after acquiring an additional 825 shares during the last quarter. Finally, Boston Partners grew its position in shares of ON Semiconductor by 0.4% during the second quarter. Boston Partners now owns 290,859 shares of the semiconductor company’s stock worth $5,623,000 after acquiring an additional 1,072 shares during the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on ON shares. Benchmark started coverage on shares of ON Semiconductor in a research report on Friday, September 20th. They set a “buy” rating and a $26.00 price target for the company. Mizuho restated a “buy” rating and set a $25.00 price target on shares of ON Semiconductor in a research report on Sunday, October 27th. ValuEngine upgraded shares of ON Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Loop Capital decreased their target price on shares of ON Semiconductor to $23.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, BNP Paribas initiated coverage on shares of ON Semiconductor in a research report on Friday, August 30th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.27.
In other ON Semiconductor news, EVP Vince Craig Hopkin sold 2,457 shares of ON Semiconductor stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $20.95, for a total transaction of $51,474.15. Following the completion of the transaction, the executive vice president now directly owns 103,853 shares of the company’s stock, valued at $2,175,720.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bernard Gutmann sold 43,266 shares of ON Semiconductor stock in a transaction on Monday, September 30th. The shares were sold at an average price of $18.79, for a total value of $812,968.14. Following the transaction, the chief financial officer now directly owns 700,344 shares of the company’s stock, valued at $13,159,463.76. The disclosure for this sale can be found here. Insiders sold 87,535 shares of company stock valued at $1,737,379 over the last three months. 1.40% of the stock is owned by company insiders.
ON traded up $0.09 on Friday, reaching $21.63. The company had a trading volume of 2,639,700 shares, compared to its average volume of 6,475,303. ON Semiconductor Corp has a one year low of $15.06 and a one year high of $23.54. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $8.95 billion, a P/E ratio of 11.04, a PEG ratio of 1.44 and a beta of 2.21. The company has a fifty day moving average of $19.40 and a 200-day moving average of $19.54.
ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Sunday, October 27th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). ON Semiconductor had a net margin of 5.71% and a return on equity of 21.95%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. Research analysts predict that ON Semiconductor Corp will post 1.51 EPS for the current year.
About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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