Cerity Partners LLC Has $619,000 Stake in ON Semiconductor Corporation (NASDAQ:ON)

Cerity Partners LLC cut its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 55.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,211 shares of the semiconductor company's stock after selling 19,145 shares during the quarter. Cerity Partners LLC's holdings in ON Semiconductor were worth $619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its holdings in shares of ON Semiconductor by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 320 shares during the last quarter. Elequin Capital LP lifted its holdings in shares of ON Semiconductor by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 274 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of ON Semiconductor in the 1st quarter valued at about $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of ON Semiconductor in the 4th quarter valued at about $43,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of ON Semiconductor by 69.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock valued at $51,000 after acquiring an additional 518 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

ON Semiconductor Stock Up 2.7%

Shares of ON traded up $1.48 during mid-day trading on Friday, hitting $56.92. 8,072,353 shares of the company's stock were exchanged, compared to its average volume of 8,120,493. The firm has a fifty day moving average of $52.14 and a two-hundred day moving average of $47.84. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $80.08. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 39.53, a P/E/G ratio of 4.56 and a beta of 1.43. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ON. Needham & Company LLC lowered their price target on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Cantor Fitzgerald assumed coverage on shares of ON Semiconductor in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price objective on the stock. TD Cowen increased their price objective on shares of ON Semiconductor from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Benchmark reduced their target price on shares of ON Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Citigroup raised their target price on shares of ON Semiconductor from $40.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $58.73.

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.