BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 131,160 Shares of ON Semiconductor Corporation $ON

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in ON Semiconductor Corporation by 83.2%, acquiring an additional 131,160 shares, bringing its total to 288,816 shares valued at approximately $11.75 million.
• Analysts' opinions on ON Semiconductor are mixed, with recent target prices ranging from $50 to $70, reflecting diverse outlooks on the stock's performance.
• ON Semiconductor reported earnings of $0.53 per share for the last quarter, slightly missing forecasts, and experienced a 15.4% revenue decline compared to the same period last year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 83.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,816 shares of the semiconductor company's stock after acquiring an additional 131,160 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.07% of ON Semiconductor worth $11,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ON. Financial Advisors Network Inc. acquired a new stake in shares of ON Semiconductor during the first quarter worth $1,542,000. Brooklyn Investment Group increased its holdings in ON Semiconductor by 122.8% during the 1st quarter. Brooklyn Investment Group now owns 3,619 shares of the semiconductor company's stock worth $147,000 after purchasing an additional 1,995 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of ON Semiconductor by 8.7% in the 1st quarter. Cresset Asset Management LLC now owns 8,121 shares of the semiconductor company's stock valued at $330,000 after purchasing an additional 649 shares during the period. Aberdeen Group plc lifted its holdings in shares of ON Semiconductor by 140.6% in the first quarter. Aberdeen Group plc now owns 343,839 shares of the semiconductor company's stock valued at $13,680,000 after purchasing an additional 200,933 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of ON Semiconductor during the first quarter worth about $501,000. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ON shares. Rosenblatt Securities decreased their target price on ON Semiconductor from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 5th. Needham & Company LLC increased their price objective on ON Semiconductor from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Roth Capital reissued a "buy" rating and set a $70.00 target price (up previously from $50.00) on shares of ON Semiconductor in a report on Tuesday, June 17th. Bank of America restated a "neutral" rating and issued a $56.00 price target (down from $70.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Finally, Benchmark reaffirmed a "buy" rating and issued a $60.00 target price (up previously from $50.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $56.84.

Insider Transactions at ON Semiconductor

In related news, CEO Hassane El-Khoury sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total value of $768,300.00. Following the transaction, the chief executive officer owned 977,814 shares in the company, valued at approximately $50,083,633.08. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company's stock.

ON Semiconductor Stock Performance

Shares of ON Semiconductor stock opened at $51.09 on Monday. The company has a market cap of $20.89 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. 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 business has a 50 day moving average price of $54.57 and a 200-day moving average price of $47.35.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.45 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%. During the same quarter last year, the firm posted $0.96 earnings per share. The firm's revenue for the quarter was down 15.4% compared to the same quarter last year. Equities analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

ON Semiconductor Company 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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