Nissay Asset Management Corp Japan ADV lifted its position in ON Semiconductor Corp (NASDAQ:ON) by 12.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 46,844 shares of the semiconductor company’s stock after buying an additional 5,078 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in ON Semiconductor were worth $928,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in ON Semiconductor by 29.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,500 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 793 shares in the last quarter. First PREMIER Bank acquired a new stake in shares of ON Semiconductor during the first quarter worth $50,000. Signaturefd LLC boosted its holdings in shares of ON Semiconductor by 40.7% during the first quarter. Signaturefd LLC now owns 4,695 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 1,359 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of ON Semiconductor by 25.0% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 10,000 shares of the semiconductor company’s stock worth $124,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of ON Semiconductor by 20.3% during the first quarter. Creative Planning now owns 10,256 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 1,729 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.
Shares of ON Semiconductor stock opened at $20.60 on Friday. The business has a 50-day moving average of $20.03 and a 200-day moving average of $18.07. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.32 and a quick ratio of 1.60. The company has a market capitalization of $8.45 billion, a PE ratio of 103.01 and a beta of 2.23. ON Semiconductor Corp has a 1-year low of $8.17 and a 1-year high of $25.92.
ON Semiconductor (NASDAQ:ON) last announced its earnings results on Saturday, May 9th. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. ON Semiconductor had a net margin of 1.55% and a return on equity of 14.62%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, equities analysts expect that ON Semiconductor Corp will post 0.56 earnings per share for the current fiscal year.
In related news, EVP Vince Craig Hopkin sold 1,818 shares of ON Semiconductor stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $19.00, for a total value of $34,542.00. Following the completion of the transaction, the executive vice president now directly owns 122,261 shares in the company, valued at $2,322,959. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilles Delfassy sold 4,072 shares of ON Semiconductor stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $20.32, for a total value of $82,743.04. Following the completion of the transaction, the director now owns 48,797 shares of the company’s stock, valued at $991,555.04. The disclosure for this sale can be found here. Insiders sold 6,510 shares of company stock valued at $130,485 over the last quarter. Insiders own 1.42% of the company’s stock.
Several research analysts recently weighed in on ON shares. Raymond James increased their target price on ON Semiconductor from $18.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. B. Riley raised ON Semiconductor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $26.00 in a research report on Wednesday, July 22nd. Morgan Stanley increased their target price on ON Semiconductor from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 15th. Zacks Investment Research raised ON Semiconductor from a “sell” rating to a “hold” rating and set a $13.00 target price on the stock in a research report on Friday, May 15th. Finally, Loop Capital cut their target price on ON Semiconductor from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.90.
ON Semiconductor Company Profile
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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