Carmel Capital Partners LLC Has $2.55 Million Position in ON Semiconductor Corporation $ON

Key Points

• Carmel Capital Partners LLC has increased its position in ON Semiconductor by 16% in the 2nd quarter, holding 48,554 shares worth approximately $2.55 million.
• ON Semiconductor's quarterly earnings reported earnings of $0.53 per share, missing expectations by $0.01, and showed a 15.4% decline in revenue year-over-year.
• Analysts have given ON Semiconductor a consensus rating of "Hold" with an average target price of $56.68, while several firms have adjusted their price objectives recently.

Carmel Capital Partners LLC increased its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,554 shares of the semiconductor company's stock after purchasing an additional 6,713 shares during the period. ON Semiconductor makes up about 0.9% of Carmel Capital Partners LLC's portfolio, making the stock its 23rd biggest holding. Carmel Capital Partners LLC's holdings in ON Semiconductor were worth $2,545,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in ON Semiconductor by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 11,328,463 shares of the semiconductor company's stock worth $460,958,000 after purchasing an additional 110,735 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in ON Semiconductor by 15.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,835,332 shares of the semiconductor company's stock worth $312,774,000 after purchasing an additional 774,087 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in ON Semiconductor during the 1st quarter worth approximately $219,001,000. Charles Schwab Investment Management Inc. lifted its holdings in ON Semiconductor by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,544,230 shares of the semiconductor company's stock worth $103,525,000 after purchasing an additional 55,976 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in ON Semiconductor by 2,735.5% during the 1st quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company's stock worth $87,330,000 after purchasing an additional 2,070,529 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC lifted their price objective on ON Semiconductor from $50.00 to $58.00 and gave the company a "buy" rating in a report on Monday, August 4th. Wells Fargo & Company dropped their price objective on ON Semiconductor from $65.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. UBS Group dropped their price objective on ON Semiconductor from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, August 5th. KeyCorp lifted their price objective on ON Semiconductor from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, B. Riley reaffirmed a "neutral" rating on shares of ON Semiconductor in a report on Tuesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, ON Semiconductor currently has a consensus rating of "Hold" and an average target price of $56.68.

Insider Buying and Selling

In other ON Semiconductor news, CEO Hassane El-Khoury sold 15,000 shares of ON Semiconductor stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total transaction of $768,300.00. Following the transaction, the chief executive officer directly owned 977,814 shares of the company's stock, valued at approximately $50,083,633.08. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company's stock.

ON Semiconductor Trading Down 0.8%

Shares of ON stock opened at $52.53 on Friday. The firm has a market capitalization of $21.48 billion, a P/E ratio of 49.09, a P/E/G ratio of 2.64 and a beta of 1.49. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $76.06. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. The stock's fifty day simple moving average is $49.83 and its 200 day simple moving average is $48.11.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, August 4th. The semiconductor company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $1.47 billion for 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 quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. ON Semiconductor has set its Q3 2025 guidance at 0.540-0.640 EPS. As a group, sell-side analysts predict that ON Semiconductor Corporation will post 2.6 EPS 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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