Magnetar Financial LLC Buys New Position in ON Semiconductor Corporation $ON

Key Points

• Magnetar Financial LLC has acquired 11,790 shares of ON Semiconductor, valued at approximately $480,000, marking a new position for the firm in the semiconductor company.
• Several other institutional investors, including Baillie Gifford & Co. and Pacer Advisors Inc., have also significantly increased their stakes in ON Semiconductor during the first quarter of the year.
• Analysts have set mixed ratings for ON Semiconductor, with a consensus rating of "Hold" and a target price of $56.84, reflecting varying perspectives on its future performance.

Magnetar Financial LLC purchased a new position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,790 shares of the semiconductor company's stock, valued at approximately $480,000.

Other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. acquired a new stake in ON Semiconductor during the first quarter worth approximately $219,001,000. Pacer Advisors Inc. raised its holdings in ON Semiconductor by 2,735.5% during the first quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company's stock worth $87,330,000 after purchasing an additional 2,070,529 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ON Semiconductor by 26.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock worth $203,462,000 after purchasing an additional 1,055,461 shares in the last quarter. Janus Henderson Group PLC raised its holdings in ON Semiconductor by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after purchasing an additional 1,041,989 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in ON Semiconductor during the first quarter worth approximately $38,548,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Insider Activity at ON Semiconductor

In related news, CEO Hassane El-Khoury sold 15,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $51.22, for a total value of $768,300.00. Following the sale, the chief executive officer directly owned 977,814 shares in the company, valued at $50,083,633.08. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

ON Semiconductor Price Performance

Shares of NASDAQ ON traded down $1.15 during trading on Wednesday, hitting $47.79. 9,986,313 shares of the company were exchanged, compared to its average volume of 7,836,999. The company has a market cap of $19.54 billion, a price-to-earnings ratio of 44.66, a PEG ratio of 2.47 and a beta of 1.48. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $76.06. The firm's fifty day moving average price is $53.83 and its 200 day moving average price is $47.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, August 4th. The semiconductor company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. ON Semiconductor's revenue for the quarter was down 15.4% on a year-over-year basis. ON Semiconductor has set its Q3 2025 guidance at 0.540-0.640 EPS. On average, sell-side analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ON. Loop Capital cut their target price on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Roth Capital reaffirmed a "buy" rating and issued a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a report on Tuesday, June 17th. JPMorgan Chase & Co. lifted their target price on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Truist Financial boosted their price objective on shares of ON Semiconductor from $43.00 to $49.00 and gave the company a "hold" rating in a research note on Tuesday, August 5th. Finally, Mizuho boosted their price objective on shares of ON Semiconductor from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Twelve research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, ON Semiconductor has an average rating of "Hold" and a consensus price target of $56.84.

ON Semiconductor 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.