Asset Management One Co. Ltd. Acquires 5,107 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Asset Management One Co. Ltd. increased its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,821 shares of the semiconductor company's stock after purchasing an additional 5,107 shares during the period. Asset Management One Co. Ltd.'s holdings in ON Semiconductor were worth $8,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ON. Sowell Financial Services LLC acquired a new stake in shares of ON Semiconductor during the 1st quarter worth about $222,000. Wealth Enhancement Advisory Services LLC grew its stake in ON Semiconductor by 15.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company's stock worth $1,070,000 after buying an additional 2,209 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in ON Semiconductor by 57.0% during the first quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company's stock worth $264,000 after buying an additional 2,353 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of ON Semiconductor by 52.7% during the fourth quarter. Blair William & Co. IL now owns 4,239 shares of the semiconductor company's stock worth $267,000 after buying an additional 1,463 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ON Semiconductor by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company's stock valued at $156,884,000 after acquiring an additional 83,665 shares during the last quarter. Institutional investors own 97.70% of the company's stock.

ON Semiconductor Trading Down 1.3%

NASDAQ ON traded down $0.72 on Friday, reaching $52.93. The company had a trading volume of 7,894,458 shares, compared to its average volume of 8,262,768. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $80.08. The stock's 50 day moving average is $45.39 and its 200-day moving average is $48.71. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 4.32 and a beta of 1.39.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. ON Semiconductor's revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. Equities analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ON shares. Citigroup dropped their price target on ON Semiconductor from $52.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Benchmark decreased their target price on ON Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Loop Capital cut their price target on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on shares of ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Finally, Mizuho raised their price objective on shares of ON Semiconductor from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $56.08.

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.