Contravisory Investment Management Inc. Purchases Shares of 16,426 onsemi $ON

Key Points

• Contravisory Investment Management acquired 16,426 onsemi shares worth approximately $1.55 million during the second quarter.
• Institutional ownership remains substantial, with hedge funds and other institutional investors holding 97.7% of onsemi’s outstanding stock.
• onsemi beat second-quarter earnings and revenue estimates, with EPS of $0.74 and revenue of $1.60 billion, but analyst sentiment remains mixed; the consensus rating is Hold with a $100.62 price target.

Contravisory Investment Management Inc. acquired a new position in shares of onsemi (NASDAQ:ON - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,426 shares of the semiconductor company's stock, valued at approximately $1,553,000.

Several other institutional investors have also modified their holdings of the stock. Janus Henderson Group PLC grew its position in shares of onsemi by 10.9% in the 1st quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company's stock valued at $848,392,000 after buying an additional 1,345,894 shares during the last quarter. Ameriprise Financial Inc. lifted its position in onsemi by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company's stock valued at $639,716,000 after acquiring an additional 877,533 shares during the last quarter. Norges Bank acquired a new position in onsemi in the fourth quarter valued at $330,885,000. Rafferty Asset Management LLC boosted its stake in onsemi by 55.0% in the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company's stock valued at $305,943,000 after acquiring an additional 2,072,125 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of onsemi by 15.5% during the first quarter. Pictet Asset Management Holding SA now owns 4,597,886 shares of the semiconductor company's stock worth $284,495,000 after purchasing an additional 615,905 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Optimism around onsemi’s earnings outlook supported the stock after Zacks upgraded the company to a No. 2 (Buy) ranking. The upgrade reflects expectations for improving earnings momentum following the company’s recent quarterly results. ON Semiconductor Corp. Moves to Buy
• Positive Sentiment: Investor interest is also being supported by onsemi’s strategy to become a broader physical-AI and robotics supplier, including technologies for intelligent sensing and power management. A MarketBeat analysis argued that this expansion could create a longer-term growth opportunity beyond the company’s traditional automotive exposure. The AI Chip Stock Making a Quiet Move Toward Dominance
• Positive Sentiment: Some analysts remain constructive: Citigroup set a $98 price target, while a separate analysis raised its valuation target after onsemi’s second-quarter report. The company recently exceeded quarterly EPS and revenue expectations and issued third-quarter EPS guidance of $0.81 to $0.93. onsemi Given New $98 Price Target
• Neutral Sentiment: Analyst sentiment remains mixed. TD Cowen reiterated a Hold rating with a $95 target, while Rosenblatt maintained a Neutral rating, suggesting that data-center strength is being offset by softer automotive and industrial demand. ON Semiconductor Hold Rating Reiterated
• Negative Sentiment: Several firms reduced or maintained cautious targets, including Mizuho’s cut to $110 and pessimistic outlooks from Wells Fargo, B. Riley and Needham. Analysts cited broader semiconductor-sector concerns and uneven recovery in automotive and industrial markets. Why Wall Street Cut ON Semiconductor’s Price Target

onsemi Stock Performance

NASDAQ ON opened at $81.17 on Monday. The firm has a market cap of $31.60 billion, a P/E ratio of 52.03, a P/E/G ratio of 0.67 and a beta of 2.03. onsemi has a 52-week low of $44.56 and a 52-week high of $134.92. The business's 50-day moving average price is $100.70 and its 200 day moving average price is $85.60. The company has a quick ratio of 2.49, a current ratio of 3.46 and a debt-to-equity ratio of 0.51.

onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The semiconductor company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. onsemi had a return on equity of 14.06% and a net margin of 10.17%.The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm's revenue was up 9.2% compared to the same quarter last year. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. On average, equities research analysts expect that onsemi will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ON shares. Truist Financial reduced their target price on onsemi from $101.00 to $91.00 and set a "hold" rating for the company in a report on Wednesday. Evercore reaffirmed an "outperform" rating and set a $137.00 price target on shares of onsemi in a research report on Friday, June 26th. Wall Street Zen upgraded onsemi from a "hold" rating to a "buy" rating in a research note on Monday, April 13th. Morgan Stanley increased their price objective on onsemi from $85.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $110.00 target price on shares of onsemi in a research report on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat, onsemi has a consensus rating of "Hold" and a consensus price target of $100.62.

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.

Want to see what other hedge funds are holding ON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for onsemi (NASDAQ:ON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source