Earnest Partners LLC Trims Stock Holdings in ON Semiconductor Corporation $ON

Key Points

• Earnest Partners LLC reduced its stake in ON Semiconductor Corporation by 1.6%, now holding 2,000,588 shares valued at approximately $81.4 million.
• Other hedge funds, including Kayne Anderson Rudnick Investment Management and Jump Financial, have significantly increased their positions in ON Semiconductor, indicating active interest from institutional investors.
• The company reported $0.53 earnings per share for the latest quarter, which missed consensus estimates, alongside revenues of $1.47 billion, down 15.4% year-over-year.

Earnest Partners LLC trimmed its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,000,588 shares of the semiconductor company's stock after selling 33,326 shares during the quarter. Earnest Partners LLC owned approximately 0.48% of ON Semiconductor worth $81,404,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ON. Baillie Gifford & Co. acquired a new position in shares of ON Semiconductor in the first quarter worth $219,001,000. Pacer Advisors Inc. raised its holdings in shares of ON Semiconductor by 2,735.5% in the first quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company's stock worth $87,330,000 after acquiring an additional 2,070,529 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ON Semiconductor by 26.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock worth $203,462,000 after acquiring an additional 1,055,461 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of ON Semiconductor by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after acquiring an additional 1,041,989 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of ON Semiconductor in the fourth quarter worth $62,426,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ON Semiconductor

In other news, CEO Hassane El-Khoury sold 15,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total value of $768,300.00. Following the completion of the sale, the chief executive officer owned 977,814 shares of the company's stock, valued at $50,083,633.08. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

ON Semiconductor Trading Down 2.3%

ON stock traded down $1.19 during trading on Friday, reaching $49.59. 7,522,821 shares of the stock traded hands, compared to its average volume of 9,702,467. ON Semiconductor Corporation has a 52-week low of $31.04 and a 52-week high of $78.61. The business's 50 day moving average price is $54.13 and its 200-day moving average price is $47.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37. The firm has a market capitalization of $20.28 billion, a PE ratio of 46.35, a P/E/G ratio of 2.53 and a beta of 1.45.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the previous year, the company earned $0.96 EPS. ON Semiconductor's quarterly revenue was down 15.4% on a year-over-year basis. ON Semiconductor has set its Q3 2025 guidance at 0.540-0.640 EPS. As a group, sell-side analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group dropped their target price 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. Citigroup dropped their target price 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. Roth Capital reiterated a "buy" rating and issued a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Cantor Fitzgerald assumed coverage on ON Semiconductor in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 target price for the company. Finally, Susquehanna reiterated a "positive" rating and issued a $65.00 target price (down from $75.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $56.84.

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.