Envestnet Portfolio Solutions Inc. cut its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 51.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,746 shares of the semiconductor company's stock after selling 13,297 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in ON Semiconductor were worth $519,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of ON. Elequin Capital LP lifted its position 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 worth $33,000 after acquiring an additional 274 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of ON Semiconductor during the first quarter worth $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of ON Semiconductor during the fourth quarter worth $43,000. Plato Investment Management Ltd purchased a new stake in shares of ON Semiconductor during the fourth quarter worth $51,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of ON Semiconductor by 69.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock worth $51,000 after acquiring an additional 518 shares in the last quarter. 97.70% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ON has been the topic of a number of recent analyst reports. B. Riley reiterated a "neutral" rating and issued a $56.00 price objective (up previously from $40.00) on shares of ON Semiconductor in a research report on Wednesday, June 18th. KeyCorp lowered their price objective on ON Semiconductor from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities reiterated a "neutral" rating and issued a $42.00 price objective on shares of ON Semiconductor in a research report on Tuesday, May 6th. KGI Securities initiated coverage on ON Semiconductor in a research report on Friday, May 23rd. They issued a "neutral" rating on the stock. Finally, TD Cowen increased their price objective on ON Semiconductor from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, ON Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $56.08.
View Our Latest Analysis on ON
ON Semiconductor Price Performance
ON Semiconductor stock opened at $53.65 on Friday. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $80.08. 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 business has a 50 day simple moving average of $45.02 and a 200-day simple moving average of $48.93. The stock has a market capitalization of $22.42 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 4.38 and a beta of 1.39.
ON Semiconductor (NASDAQ:ON - Get Free Report) last released 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 firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. ON Semiconductor's revenue was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
ON Semiconductor Profile
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Free Report)
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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