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J. Safra Sarasin Holding AG Reduces Stock Position in ON Semiconductor Corporation (NASDAQ:ON)

ON Semiconductor logo with Computer and Technology background

Key Points

  • J. Safra Sarasin Holding AG has reduced its stake in ON Semiconductor Corporation by 40.3%, selling 69,700 shares, leaving them with a total of 103,112 shares valued at $4,196,000.
  • Meanwhile, other institutional investors, such as Janus Henderson Group PLC and Allspring Global Investments Holdings LLC, have increased their holdings in the company by 9.2% and 26.3% respectively during the last quarter.
  • Wall Street analysts have mixed ratings on ON Semiconductor, with 14 analysts rating it a hold and 11 a buy, while the stock currently has an average target price of $56.13.
  • Interested in ON Semiconductor? Here are five stocks we like better.

J. Safra Sarasin Holding AG cut its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 40.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,112 shares of the semiconductor company's stock after selling 69,700 shares during the quarter. J. Safra Sarasin Holding AG's holdings in ON Semiconductor were worth $4,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC increased 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 acquiring an additional 1,041,989 shares during the last quarter. Baillie Gifford & Co. bought a new stake in shares of ON Semiconductor in the 1st quarter valued at approximately $219,001,000. Allspring Global Investments Holdings LLC increased its holdings in shares of ON Semiconductor by 26.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock valued at $203,462,000 after acquiring an additional 1,055,461 shares during the last quarter. Dimensional Fund Advisors LP increased 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 acquiring an additional 771,610 shares during the last quarter. Finally, Capital International Investors increased 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 acquiring an additional 31,365 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC reduced their price objective on ON Semiconductor from $57.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on ON Semiconductor in a research report on Thursday, July 10th. They set a "neutral" rating and a $60.00 price objective for the company. TD Cowen boosted their price objective on ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald assumed coverage on ON Semiconductor in a research report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 price objective for the company. Finally, Citigroup boosted their price objective on ON Semiconductor from $40.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Fourteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $56.13.

View Our Latest Report on ON

ON Semiconductor Stock Up 0.8%

Shares of ON Semiconductor stock opened at $56.82 on Friday. The stock's fifty day moving average is $53.83 and its 200-day moving average is $47.80. The firm has a market capitalization of $23.74 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 4.67 and a beta of 1.45. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a 12-month low of $31.04 and a 12-month high of $78.61.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates 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 for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. Equities analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

ON Semiconductor Company Profile

(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.

See Also

Want to see what other hedge funds are holding ON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ON Semiconductor Corporation (NASDAQ:ON - Free Report).

Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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