GSA Capital Partners LLP lowered its holdings in ON Semiconductor Corp (NASDAQ:ON – Get Rating) by 80.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,984 shares of the semiconductor company's stock after selling 20,643 shares during the period. GSA Capital Partners LLP's holdings in ON Semiconductor were worth $312,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Westpac Banking Corp lifted its stake in ON Semiconductor by 64.8% in the first quarter. Westpac Banking Corp now owns 46,016 shares of the semiconductor company's stock worth $2,881,000 after acquiring an additional 18,090 shares during the last quarter. Financial Advocates Investment Management lifted its stake in ON Semiconductor by 63.1% in the first quarter. Financial Advocates Investment Management now owns 8,596 shares of the semiconductor company's stock worth $538,000 after acquiring an additional 3,327 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in ON Semiconductor in the first quarter worth approximately $136,000. TD Asset Management Inc. lifted its stake in ON Semiconductor by 4.5% in the first quarter. TD Asset Management Inc. now owns 69,224 shares of the semiconductor company's stock worth $4,334,000 after acquiring an additional 2,951 shares during the last quarter. Finally, Childress Capital Advisors LLC purchased a new position in ON Semiconductor in the first quarter worth approximately $923,000. Institutional investors and hedge funds own 92.86% of the company's stock.
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Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on ON shares. Jefferies Financial Group lifted their price target on shares of ON Semiconductor from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Tuesday, August 2nd. Stifel Nicolaus boosted their price objective on shares of ON Semiconductor from $60.00 to $68.00 and gave the stock a "hold" rating in a research report on Monday, August 15th. Summit Insights downgraded shares of ON Semiconductor from a "buy" rating to a "hold" rating in a research report on Monday, August 1st. Susquehanna Bancshares boosted their price objective on shares of ON Semiconductor from $77.00 to $82.00 and gave the stock a "positive" rating in a research report on Tuesday, August 2nd. Finally, Cowen boosted their price objective on shares of ON Semiconductor from $65.00 to $81.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.30.
Insider Activity at ON Semiconductor
In related news, EVP Simon Keeton sold 2,813 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $70.00, for a total value of $196,910.00. Following the sale, the executive vice president now directly owns 167,341 shares of the company's stock, valued at approximately $11,713,870. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ON Semiconductor news, EVP Simon Keeton sold 2,813 shares of the company's stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $70.00, for a total value of $196,910.00. Following the transaction, the executive vice president now directly owns 167,341 shares in the company, valued at approximately $11,713,870. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the company's stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the completion of the transaction, the chief executive officer now owns 261,162 shares in the company, valued at $14,669,469.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,363 shares of company stock valued at $1,661,560. Insiders own 0.40% of the company's stock.
ON Semiconductor Stock Performance
NASDAQ:ON opened at $69.52 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.56. ON Semiconductor Corp has a fifty-two week low of $41.88 and a fifty-two week high of $76.78. The stock has a market cap of $30.12 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.55 and a beta of 1.82. The firm's fifty day simple moving average is $60.73 and its 200-day simple moving average is $58.89.
ON Semiconductor (NASDAQ:ON – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.01 billion. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The firm's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. Analysts expect that ON Semiconductor Corp will post 5.15 earnings per share for the current fiscal year.
ON Semiconductor Company 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.
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