ON Semiconductor Corporation (NASDAQ:ON) Shares Purchased by Deltec Asset Management LLC

Deltec Asset Management LLC lifted its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,912 shares of the semiconductor company's stock after acquiring an additional 18,317 shares during the quarter. ON Semiconductor accounts for about 1.0% of Deltec Asset Management LLC's investment portfolio, making the stock its 26th biggest position. Deltec Asset Management LLC's holdings in ON Semiconductor were worth $4,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Global X Japan Co. Ltd. increased its position in shares of ON Semiconductor by 1.4% during the first quarter. Global X Japan Co. Ltd. now owns 35,225 shares of the semiconductor company's stock worth $1,433,000 after acquiring an additional 498 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of ON Semiconductor by 34.6% during the first quarter. State of Alaska Department of Revenue now owns 100,314 shares of the semiconductor company's stock worth $4,081,000 after acquiring an additional 25,805 shares during the last quarter. PKO Investment Management Joint Stock Co increased its position in shares of ON Semiconductor by 33.3% during the first quarter. PKO Investment Management Joint Stock Co now owns 80,000 shares of the semiconductor company's stock worth $3,255,000 after acquiring an additional 20,000 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of ON Semiconductor by 61.9% during the first quarter. Rakuten Securities Inc. now owns 1,376 shares of the semiconductor company's stock worth $56,000 after acquiring an additional 526 shares during the last quarter. Finally, Grimes & Company Inc. purchased a new stake in shares of ON Semiconductor during the first quarter worth about $288,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ON. Benchmark dropped their target price on ON Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company boosted their price objective on ON Semiconductor from $45.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, June 16th. UBS Group lowered their price objective on ON Semiconductor from $55.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price objective on ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $42.00 price objective on shares of ON Semiconductor in a report on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, ON Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $55.62.

ON Semiconductor Stock Performance

Shares of NASDAQ ON traded up $0.56 during midday trading on Friday, hitting $52.82. 12,891,183 shares of the company's stock were exchanged, compared to its average volume of 8,212,846. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. The stock's 50 day moving average price is $43.53 and its 200-day moving average price is $49.29. The firm has a market cap of $22.07 billion, a P/E ratio of 36.68, a PEG ratio of 4.26 and a beta of 1.39. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $80.08.

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

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.