BlueCrest Capital Management Ltd Decreases Stake in onsemi $ON

Key Points

• BlueCrest Capital Management eliminated nearly all of its onsemi position in the second quarter, selling 25.06 million shares and retaining 10,180 shares valued at approximately $962,000.
• Institutional ownership remains high at 97.7%, with several major investors—including California State Teachers Retirement System, Two Sigma, Rafferty Asset Management, and Marshall Wace—significantly increasing their stakes.
• Analysts maintain a Moderate Buy consensus with an average price target of $96.44, although onsemi shares opened at $70.98 and remained below their 50-day and 200-day moving averages, signaling recent technical weakness.

BlueCrest Capital Management Ltd lowered its position in shares of onsemi (NASDAQ:ON - Free Report) by 100.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,180 shares of the semiconductor company's stock after selling 25,059,820 shares during the quarter. BlueCrest Capital Management Ltd's holdings in onsemi were worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. California State Teachers Retirement System increased its position in shares of onsemi by 11,638.4% during the second quarter. California State Teachers Retirement System now owns 55,231,686 shares of the semiconductor company's stock valued at $5,221,604,000 after acquiring an additional 54,761,166 shares during the last quarter. Norges Bank purchased a new position in onsemi in the fourth quarter worth $330,885,000. Two Sigma Investments LP boosted its position in onsemi by 636.1% in the third quarter. Two Sigma Investments LP now owns 3,749,751 shares of the semiconductor company's stock worth $184,900,000 after purchasing an additional 3,240,375 shares during the last quarter. Rafferty Asset Management LLC grew its stake in onsemi by 55.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company's stock valued at $305,943,000 after purchasing an additional 2,072,125 shares during the period. Finally, Marshall Wace LLP grew its stake in onsemi by 23,784.8% in the 4th quarter. Marshall Wace LLP now owns 1,716,122 shares of the semiconductor company's stock valued at $92,928,000 after purchasing an additional 1,708,937 shares during the period. 97.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ON. Needham & Company LLC cut their target price on shares of onsemi from $130.00 to $116.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Citigroup lowered their price target on shares of onsemi from $120.00 to $98.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Susquehanna raised their price objective on shares of onsemi from $140.00 to $150.00 and gave the stock a "positive" rating in a report on Thursday, July 9th. Bank of America boosted their target price on shares of onsemi from $115.00 to $138.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $95.00 price target on shares of onsemi in a report on Monday, June 29th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, onsemi currently has a consensus rating of "Moderate Buy" and an average target price of $96.44.

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s latest quarterly results remain a supportive backdrop: revenue increased 9.2% year over year, EPS exceeded consensus, and management provided third-quarter 2026 EPS guidance of $0.81–$0.93. However, these results were reported previously and are not a fresh catalyst today.
• Neutral Sentiment: The broader semiconductor sector has recently benefited from enthusiasm around artificial-intelligence infrastructure and advanced-chip demand, which could provide some support for onsemi’s power and automotive semiconductor businesses. Why Onto Innovation Stock Is Up Today
• Negative Sentiment: Recent market coverage highlighted onsemi’s 4.44% decline in the prior trading session, reflecting heavier selling than the broader market. The stock is also trading below its 50-day and 200-day moving averages, indicating continued technical pressure and limited near-term momentum. ON Semiconductor Falls More Steeply Than Broader Market
• Negative Sentiment: A Seeking Alpha analysis characterized the stock’s recent setup as a potential “bull trap,” raising concerns that optimism about an AI-driven portfolio refresh may not yet be translating into sustained earnings momentum. That caution may be weighing on investors following the recent selloff. ON Semiconductor’s Bull Trap Over

onsemi Price Performance

Shares of NASDAQ:ON opened at $70.98 on Thursday. The company has a 50 day moving average of $82.31 and a 200 day moving average of $87.33. The stock has a market cap of $27.63 billion, a P/E ratio of 45.50, a P/E/G ratio of 0.58 and a beta of 2.00. onsemi has a 12 month low of $44.56 and a 12 month high of $134.92. The company has a current ratio of 3.46, a quick ratio of 2.49 and a debt-to-equity ratio of 0.51.

onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. onsemi had a net margin of 10.17% and a return on equity of 14.06%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. onsemi's revenue was up 9.2% on a year-over-year basis. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. As a group, sell-side analysts forecast that onsemi will post 3.23 EPS for the current fiscal year.

onsemi 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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