Graphene Investments SAS Increases Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

Graphene Investments SAS boosted its stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 48.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 59,200 shares of the semiconductor company's stock after buying an additional 19,400 shares during the period. Graphene Investments SAS's holdings in ON Semiconductor were worth $2,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in ON Semiconductor in the fourth quarter worth about $378,312,000. Janus Henderson Group PLC lifted its stake in shares of ON Semiconductor by 9.2% during the 4th 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. Freestone Grove Partners LP bought a new stake in shares of ON Semiconductor during the 4th quarter worth approximately $62,426,000. Dimensional Fund Advisors LP boosted its holdings in ON Semiconductor by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after acquiring an additional 771,610 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in ON Semiconductor by 226.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 888,364 shares of the semiconductor company's stock valued at $36,148,000 after acquiring an additional 615,825 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

ON Semiconductor Trading Down 0.2%

NASDAQ:ON opened at $53.65 on Friday. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 4.38 and a beta of 1.39. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $45.02 and a 200 day moving average of $48.93.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on ON Semiconductor in a research report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Robert W. Baird dropped their target price on shares of ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley started coverage on shares of ON Semiconductor in a research report on Monday, May 12th. They set an "equal weight" rating and a $39.00 target price on the stock. Finally, UBS Group lowered their price target on ON Semiconductor from $55.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.08.

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.

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