12,311 Shares in ON Semiconductor Corporation (NASDAQ:ON) Acquired by Ground Swell Capital LLC

Key Points

• Ground Swell Capital LLC has acquired a new stake in ON Semiconductor Corporation, purchasing 12,311 shares valued at approximately $501,000, now making up 1.1% of their investment portfolio.
• Despite a 15.4% year-over-year decline in revenue, ON Semiconductor reported a quarterly revenue of $1.47 billion and earnings per share (EPS) of $0.53, slightly below analysts' expectations.
• Wall Street analysts maintain a mixed outlook on ON Semiconductor, with an average target price of $56.84 and a consensus rating of "Hold" after varying reports from companies like Needham & Company and Wells Fargo.

Ground Swell Capital LLC purchased a new stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,311 shares of the semiconductor company's stock, valued at approximately $501,000. ON Semiconductor accounts for about 1.1% of Ground Swell Capital LLC's investment portfolio, making the stock its 19th largest holding.

Several other large investors have also recently bought and sold shares of ON. Costello Asset Management INC bought a new stake in shares of ON Semiconductor during the 1st quarter worth $26,000. Golden State Wealth Management LLC increased its position in shares of ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 320 shares during the period. Elequin Capital LP boosted its stake in shares of ON Semiconductor by 108.3% during the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of ON Semiconductor during the 1st quarter valued at about $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of ON Semiconductor by 69.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock valued at $51,000 after purchasing an additional 518 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

ON Semiconductor Stock Up 3.8%

Shares of ON Semiconductor stock opened at $51.89 on Thursday. The firm's 50 day moving average price is $54.51 and its 200-day moving average price is $47.47. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a 52-week low of $31.04 and a 52-week high of $78.61. The company has a market cap of $21.22 billion, a P/E ratio of 48.50, a PEG ratio of 2.49 and a beta of 1.45.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, August 4th. The semiconductor company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.45 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%. The firm's revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. On average, sell-side analysts predict that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ON has been the topic of several analyst reports. Needham & Company LLC upped their target price on shares of ON Semiconductor from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. KGI Securities initiated coverage on shares of ON Semiconductor in a report on Friday, May 23rd. They set a "neutral" rating for the company. Morgan Stanley began coverage on shares of ON Semiconductor in a report on Monday, May 12th. They set an "equal weight" rating and a $39.00 target price for the company. Cantor Fitzgerald began coverage on shares of ON Semiconductor in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of ON Semiconductor from $65.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average 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.

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