DDD Partners LLC Purchases 181,199 Shares of ON Semiconductor Corporation (NASDAQ:ON)

DDD Partners LLC increased its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 110.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 345,208 shares of the semiconductor company's stock after purchasing an additional 181,199 shares during the quarter. ON Semiconductor makes up about 1.7% of DDD Partners LLC's investment portfolio, making the stock its 27th largest holding. DDD Partners LLC owned about 0.08% of ON Semiconductor worth $14,047,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Elequin Capital LP increased its stake 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 valued at $33,000 after purchasing an additional 274 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of ON Semiconductor in the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC increased its position 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 valued at $29,000 after buying an additional 320 shares in the last quarter. Quarry LP raised its stake in ON Semiconductor by 7,766.7% during the fourth quarter. Quarry LP now owns 944 shares of the semiconductor company's stock valued at $60,000 after buying an additional 932 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in ON Semiconductor during the first quarter valued at $41,000. 97.70% of the stock is currently owned by institutional investors.

ON Semiconductor Trading Down 0.2%

ON traded down $0.15 on Thursday, hitting $59.38. The company had a trading volume of 3,087,219 shares, compared to its average volume of 8,353,342. The business's fifty day simple moving average is $50.19 and its 200 day simple moving average is $47.99. 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 Corporation has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a market cap of $24.81 billion, a PE ratio of 41.23, a PEG ratio of 4.86 and a beta of 1.43.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $1.08 earnings per share. ON Semiconductor's revenue was down 22.4% on a year-over-year basis. Equities research analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ON. Citigroup upped their target price on shares of ON Semiconductor from $40.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Loop Capital cut their target price on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. UBS Group reissued a "neutral" rating and issued a $55.00 target price (up previously from $45.00) on shares of ON Semiconductor in a report on Monday, July 7th. Cantor Fitzgerald started coverage on ON Semiconductor in a report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 price target on the stock. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $42.00 target price on shares of ON Semiconductor in a research report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $57.85.

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.