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

Graphene Investments SAS boosted its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 48.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,200 shares of the semiconductor company's stock after buying an additional 19,400 shares during the quarter. Graphene Investments SAS's holdings in ON Semiconductor were worth $2,409,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ON. Vanguard Group Inc. raised its holdings in shares of ON Semiconductor by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after purchasing an additional 344,354 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of ON Semiconductor by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock valued at $780,387,000 after purchasing an additional 1,041,989 shares in the last quarter. Norges Bank acquired a new stake in shares of ON Semiconductor in the 4th quarter valued at $378,312,000. Dimensional Fund Advisors LP raised its holdings in shares of ON Semiconductor by 18.2% in 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 purchasing an additional 771,610 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of ON Semiconductor by 0.7% in the 4th quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company's stock valued at $265,737,000 after purchasing an additional 31,365 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of ON Semiconductor in a report on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price objective on the stock. Needham & Company LLC cut their price target on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. KGI Securities initiated coverage on shares of ON Semiconductor in a research note on Friday, May 23rd. They set a "neutral" rating on the stock. Robert W. Baird cut their price target 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. Finally, Mizuho lifted their price target on shares of ON Semiconductor from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ON Semiconductor currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.08.

ON Semiconductor Stock Performance

ON Semiconductor stock traded down $0.52 during midday trading on Monday, hitting $52.41. 7,093,948 shares of the company's stock were exchanged, compared to its average volume of 8,258,098. 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 quick ratio of 3.32 and a current ratio of 4.95. The stock has a market cap of $21.90 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 4.32 and a beta of 1.39. The firm's 50 day simple moving average is $45.74 and its 200 day simple moving average is $48.49.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The business's quarterly revenue was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Equities research analysts predict 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.