Toroso Investments LLC grew its stake in ON Semiconductor Corporation (NASDAQ:ON – Free Report) by 13.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,137 shares of the semiconductor company’s stock after purchasing an additional 2,697 shares during the period. Toroso Investments LLC’s holdings in ON Semiconductor were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Continuum Advisory LLC acquired a new stake in ON Semiconductor during the 4th quarter worth approximately $373,000. Ontario Teachers Pension Plan Board acquired a new stake in ON Semiconductor during the 4th quarter worth approximately $331,000. American International Group Inc. boosted its position in ON Semiconductor by 8.1% during the 4th quarter. American International Group Inc. now owns 132,885 shares of the semiconductor company’s stock worth $8,288,000 after buying an additional 9,919 shares during the period. State of Alaska Department of Revenue boosted its position in ON Semiconductor by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 158,942 shares of the semiconductor company’s stock worth $13,083,000 after buying an additional 1,265 shares during the period. Finally, Bank of Hawaii acquired a new stake in ON Semiconductor during the 1st quarter worth approximately $389,000. 96.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ON. BMO Capital Markets boosted their price target on shares of ON Semiconductor from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Morgan Stanley boosted their price target on shares of ON Semiconductor from $89.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Rosenblatt Securities boosted their price target on shares of ON Semiconductor from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. StockNews.com began coverage on shares of ON Semiconductor in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, KeyCorp boosted their price target on shares of ON Semiconductor from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.31.
Insider Activity
In related news, EVP Simon Keeton sold 11,310 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $95.00, for a total value of $1,074,450.00. Following the sale, the executive vice president now directly owns 196,034 shares of the company’s stock, valued at $18,623,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $99.18, for a total value of $277,208.10. Following the sale, the chief accounting officer now directly owns 32,050 shares of the company’s stock, valued at $3,178,719. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Simon Keeton sold 11,310 shares of ON Semiconductor stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $95.00, for a total transaction of $1,074,450.00. Following the transaction, the executive vice president now directly owns 196,034 shares in the company, valued at $18,623,230. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,378 shares of company stock worth $6,030,709. 0.40% of the stock is owned by company insiders.
ON Semiconductor Price Performance
NASDAQ ON opened at $93.10 on Friday. The company has a market cap of $40.21 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.48 and a beta of 1.78. ON Semiconductor Corporation has a 52 week low of $54.93 and a 52 week high of $111.35. The company has a quick ratio of 1.60, a current ratio of 2.39 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $98.27 and its two-hundred day simple moving average is $87.97.
ON Semiconductor (NASDAQ:ON – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ON Semiconductor had a net margin of 23.41% and a return on equity of 36.71%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Research analysts predict that ON Semiconductor Corporation will post 5.25 earnings per share for the current year.
ON Semiconductor Company Profile
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.
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