ON Semiconductor Corporation (NASDAQ:ON) Shares Acquired by Lbp Am Sa

LBP AM SA lifted its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 139.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,926 shares of the semiconductor company's stock after purchasing an additional 50,592 shares during the period. LBP AM SA's holdings in ON Semiconductor were worth $3,537,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in ON Semiconductor in the fourth quarter valued at $378,312,000. Allspring Global Investments Holdings LLC lifted its position in ON Semiconductor by 26.3% in the first 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. Janus Henderson Group PLC lifted its position in ON Semiconductor by 9.2% in the fourth 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. Freestone Grove Partners LP purchased a new stake in ON Semiconductor in the fourth quarter valued at $62,426,000. Finally, Dimensional Fund Advisors LP lifted its position in ON Semiconductor by 18.2% in the fourth 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. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird dropped their price objective 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. Cantor Fitzgerald assumed coverage on shares of ON Semiconductor in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price objective on the stock. TD Cowen lifted their price objective on shares of ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Mizuho lifted their price objective on shares of ON Semiconductor from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $42.00 price objective on shares of ON Semiconductor in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $57.65.

ON Semiconductor Price Performance

ON stock traded up $0.21 during trading on Friday, reaching $59.73. 6,355,578 shares of the company were exchanged, compared to its average volume of 8,347,487. The company has a market cap of $24.96 billion, a P/E ratio of 41.48, a PEG ratio of 4.91 and a beta of 1.43. ON Semiconductor Corporation has a 52-week low of $31.04 and a 52-week high of $80.08. The stock's 50 day moving average price is $48.95 and its 200 day moving average price is $48.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The firm 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 firm's revenue was down 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. As a group, analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

About ON Semiconductor

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.