Alps Advisors Inc. lessened its stake in ON Semiconductor Corp (NASDAQ:ON) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,034 shares of the semiconductor company’s stock after selling 899 shares during the quarter. Alps Advisors Inc.’s holdings in ON Semiconductor were worth $344,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Oakworth Capital Inc. bought a new position in shares of ON Semiconductor in the second quarter worth $28,000. Front Row Advisors LLC boosted its stake in ON Semiconductor by 2,244.3% in the first quarter. Front Row Advisors LLC now owns 1,430 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 1,369 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in ON Semiconductor by 79.8% in the first quarter. Berman Capital Advisors LLC now owns 1,539 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 683 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in ON Semiconductor by 135.8% in the first quarter. Quadrant Capital Group LLC now owns 2,747 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 1,582 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of ON Semiconductor by 87.4% during the first quarter. FinTrust Capital Advisors LLC now owns 2,608 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 1,216 shares in the last quarter. 96.97% of the stock is owned by institutional investors.
In other ON Semiconductor news, VP Paul E. Rolls sold 11,467 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $22.00, for a total value of $252,274.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Emmanuel T. Hernandez sold 30,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $22.00, for a total value of $660,000.00. Following the transaction, the director now owns 100,994 shares in the company, valued at $2,221,868. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
ON stock opened at $20.03 on Friday. ON Semiconductor Corp has a 1-year low of $14.55 and a 1-year high of $23.54. The company has a current ratio of 2.42, a quick ratio of 1.41 and a debt-to-equity ratio of 1.08. The stock’s fifty day simple moving average is $18.70 and its two-hundred day simple moving average is $20.28. The stock has a market cap of $7.99 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.85 and a beta of 2.19.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Sunday, August 4th. The semiconductor company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, analysts forecast that ON Semiconductor Corp will post 1.58 earnings per share for the current fiscal year.
A number of brokerages have recently commented on ON. ValuEngine raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Citigroup cut their price objective on ON Semiconductor from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Mizuho reiterated a “buy” rating and issued a $26.00 target price on shares of ON Semiconductor in a report on Monday, August 5th. Cowen reiterated an “outperform” rating and issued a $25.00 target price (down from $29.00) on shares of ON Semiconductor in a report on Tuesday, August 6th. Finally, Loop Capital lowered their target price on ON Semiconductor to $23.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ON Semiconductor currently has an average rating of “Buy” and an average target price of $24.10.
ON Semiconductor 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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