Russell Investments Group Ltd. Boosts Stake in ON Semiconductor Co. (NASDAQ:ON)

Russell Investments Group Ltd. increased its stake in ON Semiconductor Co. (NASDAQ:ON) by 34.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,338 shares of the semiconductor company’s stock after purchasing an additional 46,156 shares during the quarter. Russell Investments Group Ltd.’s holdings in ON Semiconductor were worth $8,160,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of ON Semiconductor by 4.3% during the second quarter. Vanguard Group Inc. now owns 38,712,946 shares of the semiconductor company’s stock valued at $1,481,931,000 after purchasing an additional 1,610,876 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of ON Semiconductor by 170.4% in the 3rd quarter. Nordea Investment Management AB now owns 12,065,188 shares of the semiconductor company’s stock valued at $558,376,000 after acquiring an additional 7,602,971 shares during the last quarter. Geode Capital Management LLC lifted its stake in ON Semiconductor by 5.9% in the second quarter. Geode Capital Management LLC now owns 5,592,696 shares of the semiconductor company’s stock worth $213,792,000 after purchasing an additional 313,279 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in ON Semiconductor by 92.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,654,877 shares of the semiconductor company’s stock worth $101,628,000 after purchasing an additional 1,276,117 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in ON Semiconductor by 95.7% in the second quarter. Renaissance Technologies LLC now owns 2,635,296 shares of the semiconductor company’s stock worth $100,879,000 after purchasing an additional 1,288,500 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of ON Semiconductor from $54.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ON Semiconductor from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 15th. Needham & Company LLC lifted their price target on shares of ON Semiconductor from $70.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, December 13th. Jefferies Financial Group lifted their price target on shares of ON Semiconductor from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 2nd. Finally, Bank of America lifted their price target on shares of ON Semiconductor from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, January 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $58.94.

In related news, EVP Simon Keeton sold 4,352 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $55.81, for a total value of $242,885.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vince Craig Hopkin sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $65.56, for a total transaction of $327,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,352 shares of company stock worth $834,205 over the last three months. 1.42% of the stock is currently owned by insiders.

ON Semiconductor stock opened at $66.20 on Friday. ON Semiconductor Co. has a 52-week low of $33.78 and a 52-week high of $71.25. The company’s 50 day moving average is $63.84 and its two-hundred day moving average is $50.83. The firm has a market cap of $28.52 billion, a PE ratio of 43.27 and a beta of 1.75. The company has a quick ratio of 1.60, a current ratio of 2.52 and a debt-to-equity ratio of 0.70.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Sunday, October 31st. The semiconductor company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.13. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. ON Semiconductor had a net margin of 10.61% and a return on equity of 25.19%. The company’s revenue was up 32.2% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. On average, equities research analysts anticipate that ON Semiconductor Co. will post 2.8 earnings per share for the current fiscal year.

ON Semiconductor Company Profile

ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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