Covea Finance Makes New $3.49 Million Investment in ON Semiconductor Corporation $ON

Key Points

• Covea Finance has made a new investment of approximately $3.49 million in ON Semiconductor Corporation by acquiring 66,500 shares during the second quarter.
• Insider trading was noted as CEO Hassane El-Khoury sold 15,000 shares at an average price of $51.22, resulting in a 1.51% decrease in his ownership of the stock.
• ON Semiconductor's quarterly earnings revealed a missed EPS estimate of $0.54, with actual earnings of $0.53, while revenue increased slightly to $1.47 billion compared to expectations.

Covea Finance purchased a new position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 66,500 shares of the semiconductor company's stock, valued at approximately $3,485,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC raised its position 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 worth $29,000 after purchasing an additional 320 shares during the period. Avantax Advisory Services Inc. increased its position in ON Semiconductor by 4.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company's stock valued at $408,000 after acquiring an additional 463 shares during the period. United Services Automobile Association acquired a new stake in ON Semiconductor in the 1st quarter valued at approximately $401,000. Empowered Funds LLC boosted its stake in ON Semiconductor by 29.0% during the 1st quarter. Empowered Funds LLC now owns 207,321 shares of the semiconductor company's stock valued at $8,436,000 after purchasing an additional 46,551 shares in the last quarter. Finally, Woodline Partners LP bought a new position in ON Semiconductor during the 1st quarter valued at $9,505,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ON Semiconductor news, CEO Hassane El-Khoury sold 15,000 shares of the firm's 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 in the company, valued at $50,083,633.08. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

ON Semiconductor Price Performance

Shares of NASDAQ:ON opened at $51.50 on Tuesday. The company has a current ratio of 5.02, a quick ratio of 3.37 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $76.06. The business has a fifty day simple moving average of $52.06 and a 200 day simple moving average of $47.30. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 48.13, a P/E/G ratio of 2.54 and a beta of 1.48.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 earnings per share (EPS) 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%.ON Semiconductor's revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the business 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on ON Semiconductor from $65.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Rosenblatt Securities reduced their price objective on ON Semiconductor from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Tuesday, August 5th. Piper Sandler reissued an "overweight" rating on shares of ON Semiconductor in a research note on Monday, August 4th. Susquehanna reissued a "positive" rating and set a $65.00 price objective (down from $75.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Finally, Citigroup reduced their price objective on ON Semiconductor from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, August 5th. Twelve analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $56.68.

ON Semiconductor 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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