Forsta AP Fonden Sells 5,600 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Key Points

• Forsta AP Fonden reduced its stake in ON Semiconductor by 6.3%, owning 83,400 shares after selling 5,600 shares, valued at approximately $3.39 million.
• Multiple institutional investors increased their stakes in ON Semiconductor during the fourth quarter, with notable increases of 229.2% from Townsquare Capital and 12.8% from Cerity Partners.
• ON Semiconductor reported earnings of $0.53 per share for the last quarter, missing estimates and showing a 15.4% decline in revenue year-over-year, despite a slight revenue gain against expectations.

Forsta AP Fonden lessened its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,400 shares of the semiconductor company's stock after selling 5,600 shares during the quarter. Forsta AP Fonden's holdings in ON Semiconductor were worth $3,394,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Elequin Capital LP lifted 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 acquiring an additional 274 shares during the period. Costello Asset Management INC acquired a new position in ON Semiconductor in the first quarter valued at about $26,000. Golden State Wealth Management LLC lifted its stake in ON Semiconductor by 83.3% in the first 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 during the period. Quarry LP lifted its stake in ON Semiconductor by 7,766.7% in 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 period. Finally, Opal Wealth Advisors LLC acquired a new position in ON Semiconductor in the first quarter valued at about $41,000. Institutional investors and hedge funds own 97.70% of the company's stock.

ON Semiconductor Price Performance

ON stock traded down $0.53 during midday trading on Friday, reaching $51.09. 7,572,204 shares of the stock were exchanged, compared to its average volume of 11,480,188. The stock has a market capitalization of $20.89 billion, a PE ratio of 47.75, a P/E/G ratio of 2.57 and a beta of 1.45. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $78.61. 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 company has a fifty day moving average price of $54.57 and a 200 day moving average price of $47.44.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.45 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%. The company's revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ON. Benchmark restated a "buy" rating and issued a $60.00 price target (up from $50.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. The Goldman Sachs Group began coverage on ON Semiconductor in a report on Thursday, July 10th. They issued a "neutral" rating and a $60.00 price target for the company. Robert W. Baird lowered their price target on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Bank of America reissued a "neutral" rating and issued a $56.00 target price (down previously from $70.00) on shares of ON Semiconductor in a research report on Tuesday, August 5th. Finally, Susquehanna restated a "positive" rating and issued a $65.00 target price (down previously from $75.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.84.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 15,000 shares of the business'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 transaction, the chief executive officer directly owned 977,814 shares of the company's stock, valued at $50,083,633.08. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company's stock.

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.