ON Semiconductor Corporation (NASDAQ:ON) Stock Holdings Trimmed by Greenleaf Trust

Posted by Defense World Staff on Apr 8th, 2023

Greenleaf Trust decreased its holdings in ON Semiconductor Corporation (NASDAQ:ON – Get Rating) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,828 shares of the semiconductor company’s stock after selling 159 shares during the quarter. Greenleaf Trust’s holdings in ON Semiconductor were worth $363,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Fifth Third Bancorp raised its holdings in ON Semiconductor by 11.4% during the fourth quarter. Fifth Third Bancorp now owns 61,676 shares of the semiconductor company’s stock worth $3,847,000 after purchasing an additional 6,298 shares in the last quarter. Steel Peak Wealth Management LLC lifted its holdings in shares of ON Semiconductor by 86.4% in the fourth quarter. Steel Peak Wealth Management LLC now owns 17,071 shares of the semiconductor company’s stock valued at $1,065,000 after buying an additional 7,915 shares during the period. Sigma Planning Corp boosted its stake in ON Semiconductor by 4.4% during the fourth quarter. Sigma Planning Corp now owns 8,313 shares of the semiconductor company’s stock valued at $519,000 after buying an additional 354 shares in the last quarter. Covenant Asset Management LLC grew its holdings in ON Semiconductor by 12.5% during the fourth quarter. Covenant Asset Management LLC now owns 50,290 shares of the semiconductor company’s stock worth $3,137,000 after acquiring an additional 5,577 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in ON Semiconductor by 30.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 5,514 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 1,280 shares in the last quarter. 96.84% of the stock is owned by institutional investors and hedge funds.

ON Semiconductor Trading Down 1.6 %

Shares of NASDAQ:ON opened at $75.34 on Friday. The stock has a market capitalization of $32.54 billion, a PE ratio of 17.73, a P/E/G ratio of 4.71 and a beta of 1.75. The firm has a fifty day moving average price of $79.75 and a 200 day moving average price of $71.03. ON Semiconductor Corporation has a 1 year low of $44.76 and a 1 year high of $87.55. The company has a current ratio of 2.78, a quick ratio of 2.00 and a debt-to-equity ratio of 0.49.

ON Semiconductor (NASDAQ:ON – Get Rating) last released its quarterly earnings results on Monday, February 6th. The semiconductor company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ON Semiconductor had a net margin of 22.85% and a return on equity of 42.09%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Analysts expect that ON Semiconductor Corporation will post 4.42 EPS for the current fiscal year.

ON Semiconductor declared that its board has approved a share repurchase program on Monday, February 6th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at ON Semiconductor

In other ON Semiconductor news, EVP Simon Keeton sold 4,000 shares of ON Semiconductor stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $80.00, for a total value of $320,000.00. Following the transaction, the executive vice president now directly owns 209,781 shares of the company’s stock, valued at approximately $16,782,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ON Semiconductor news, CEO Hassane El-Khoury sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $79.18, for a total value of $395,900.00. Following the completion of the transaction, the chief executive officer now owns 606,212 shares of the company’s stock, valued at approximately $47,999,866.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Simon Keeton sold 4,000 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $80.00, for a total value of $320,000.00. Following the completion of the transaction, the executive vice president now owns 209,781 shares of the company’s stock, valued at $16,782,480. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ON has been the topic of several recent research reports. Summit Insights raised shares of ON Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, February 6th. Raymond James cut ON Semiconductor from an “outperform” rating to a “market perform” rating in a report on Thursday, March 2nd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft raised their price objective on ON Semiconductor from $77.00 to $95.00 in a research note on Monday, February 6th. Bank of America lifted their price target on ON Semiconductor from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. Finally, Morgan Stanley upped their price objective on shares of ON Semiconductor from $70.40 to $89.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ON Semiconductor has an average rating of “Moderate Buy” and a consensus target price of $88.84.

ON Semiconductor Profile

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onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.