Clear Creek Financial Management LLC Purchases 15,015 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Clear Creek Financial Management LLC lifted its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 343.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,381 shares of the semiconductor company's stock after purchasing an additional 15,015 shares during the quarter. Clear Creek Financial Management LLC's holdings in ON Semiconductor were worth $789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ON. Elequin Capital LP increased its position in shares of ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 274 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in ON Semiconductor in the 4th quarter worth $43,000. Golden State Wealth Management LLC increased its holdings in ON Semiconductor by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 320 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of ON Semiconductor in the 4th quarter valued at about $51,000. Finally, Rakuten Securities Inc. raised its stake in shares of ON Semiconductor by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 691 shares during the period. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ON shares. B. Riley reissued a "neutral" rating and set a $56.00 price target (up from $40.00) on shares of ON Semiconductor in a research report on Wednesday, June 18th. Rosenblatt Securities reissued a "neutral" rating and issued a $42.00 target price on shares of ON Semiconductor in a research note on Tuesday, May 6th. KGI Securities initiated coverage on shares of ON Semiconductor in a research report on Friday, May 23rd. They set a "neutral" rating on the stock. JPMorgan Chase & Co. cut their price target on shares of ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Finally, UBS Group lowered their price objective on shares of ON Semiconductor from $55.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Thirteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.08.

ON Semiconductor Price Performance

Shares of ON traded up $2.35 during trading hours on Wednesday, reaching $55.95. The stock had a trading volume of 10,422,462 shares, compared to its average volume of 8,283,003. The stock has a market capitalization of $23.38 billion, a PE ratio of 38.85, a PEG ratio of 4.27 and a beta of 1.43. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $80.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95. The company's 50-day moving average is $46.10 and its two-hundred day moving average is $48.52.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $1.45 billion for 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%. The business's quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. Research analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current 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.