Arizona State Retirement System Cuts Stock Position in ON Semiconductor Corporation $ON

Key Points

• Arizona State Retirement System trimmed its stake in ON Semiconductor by 8.8%, selling 10,841 shares and leaving it with 112,530 shares valued at about $6.09 million at quarter-end.
• Shares have surged to near multi‑year/52‑week highs after analyst upgrades and large institutional buying (e.g., Boston Trust Walden added ~871,786 shares), but the stock trades at a rich trailing P/E of ~289 and insiders have been net sellers, raising downside risk ahead of upcoming earnings.
• Fundamentals show a mixed picture: ON beat EPS estimates ($0.64 vs. $0.62) but revenue fell 11.2% year‑over‑year to $1.53 billion, with Q1 guidance of $0.56–$0.66 per share.

Arizona State Retirement System cut its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,530 shares of the semiconductor company's stock after selling 10,841 shares during the quarter. Arizona State Retirement System's holdings in ON Semiconductor were worth $6,094,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA grew its stake in ON Semiconductor by 72.8% during the 3rd quarter. Private Trust Co. NA now owns 522 shares of the semiconductor company's stock worth $26,000 after buying an additional 220 shares during the last quarter. CVA Family Office LLC raised its stake in ON Semiconductor by 83.7% in the fourth quarter. CVA Family Office LLC now owns 472 shares of the semiconductor company's stock valued at $26,000 after buying an additional 215 shares during the last quarter. Quent Capital LLC acquired a new stake in ON Semiconductor in the third quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in ON Semiconductor by 68.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 577 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 235 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of ON Semiconductor by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 568 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 218 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

ON Semiconductor Price Performance

Shares of NASDAQ ON opened at $98.40 on Monday. The firm has a market cap of $38.70 billion, a price-to-earnings ratio of 289.42, a price-to-earnings-growth ratio of 0.99 and a beta of 1.53. The company's 50-day simple moving average is $67.55 and its 200-day simple moving average is $59.60. The company has a quick ratio of 2.98, a current ratio of 4.52 and a debt-to-equity ratio of 0.39. ON Semiconductor Corporation has a 52-week low of $37.19 and a 52-week high of $100.30.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, February 9th. The semiconductor company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. ON Semiconductor had a net margin of 2.02% and a return on equity of 12.22%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The company's revenue for the quarter was down 11.2% on a year-over-year basis. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. Equities analysts predict that ON Semiconductor Corporation will post 2.93 EPS for the current fiscal year.

ON Semiconductor News Summary

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: B. Riley upgraded ON to Buy and raised its price target sharply, which helped trigger renewed buying and pushed shares to fresh multi‑year highs. ON Semiconductor (ON) Stock Soars to 52-Week Peak After Major Analyst Upgrade
• Positive Sentiment: A Boston Trust Walden 13F filing shows the fund added 871,786 ON shares for the quarter — a sizable institutional buy that signals professional buyers are increasing exposure. Fund Update: 871,786 ON SEMICONDUCTOR (ON) shares added to Boston Trust Walden Corp portfolio
• Positive Sentiment: Broader semiconductor momentum and recent analyst bullishness have driven short‑term positioning ahead of ON’s upcoming Q1 report, adding technical fuel to the rally. onsemi surges 10% as analysts turn more bullish and traders position ahead of May earnings
• Neutral Sentiment: Upcoming earnings (company scheduled to report in early May) are a near‑term catalyst — that concentrates both upside (beat/raise) and event risk (miss/guide down). Market moves reflect positioning into that event rather than new fundamental proof yet. These Chip Stocks Power Sector's Latest Advance
• Negative Sentiment: Insiders have been net sellers recently (multiple filings show executive sales), which can be perceived negatively by the market — worth monitoring for follow‑through. onsemi surges 10% as analysts turn more bullish and traders position ahead of May earnings
• Negative Sentiment: Several commentaries flag that the stock’s rapid, multi‑week run looks parabolic and could attract profit‑taking or a sharp pullback; ON’s trailing valuation is rich (background P/E ~289), so a weak print or cautious guidance could reverse gains quickly. ON Semiconductor: Chip Stocks' Parabolic Rise Draws Concerns
• Negative Sentiment: Prominent commentators (e.g., Jim Cramer) have voiced skepticism about the sustainability of the rally — cautionary views that can amplify volatility if sentiment shifts. Jim Cramer on ON Semiconductor: “Bit of a Mystery to Me”

Insider Transactions at ON Semiconductor

In related news, insider Sudhir Gopalswamy sold 6,114 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.67, for a total transaction of $358,708.38. Following the completion of the sale, the insider directly owned 173,943 shares in the company, valued at approximately $10,205,235.81. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $73.02, for a total value of $1,460,400.00. Following the completion of the transaction, the chief executive officer owned 1,015,610 shares in the company, valued at $74,159,842.20. The trade was a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 116,114 shares of company stock valued at $8,492,308 over the last ninety days. Insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ON. Wall Street Zen upgraded shares of ON Semiconductor from a "hold" rating to a "buy" rating in a report on Monday, April 13th. Stifel Nicolaus upped their price target on shares of ON Semiconductor from $50.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, January 16th. TD Cowen reiterated a "buy" rating on shares of ON Semiconductor in a research note on Tuesday, February 10th. Piper Sandler upped their target price on ON Semiconductor from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Finally, Mizuho decreased their price objective on shares of ON Semiconductor from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, February 10th. Fourteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ON Semiconductor has a consensus rating of "Hold" and an average target price of $67.15.

ON Semiconductor Company Profile

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.

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