ON Semiconductor Corporation (NASDAQ:ON) Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC has reduced its position in ON Semiconductor Corporation by 63.4%, owning 63,439 shares after selling 110,079 during the first quarter.
• ON Semiconductor reported $0.53 EPS for the most recent quarter, missing analyst estimates, and experienced a 15.4% decrease in revenue compared to the previous year.
• Investment analysts maintain a consensus rating of "Hold" for ON Semiconductor, with an average target price of $56.84, reflecting mixed expectations about its market performance.

Mizuho Markets Americas LLC lessened its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 63.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,439 shares of the semiconductor company's stock after selling 110,079 shares during the period. Mizuho Markets Americas LLC's holdings in ON Semiconductor were worth $2,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new stake in ON Semiconductor during the 1st quarter worth $26,000. Golden State Wealth Management LLC increased its position in ON Semiconductor by 83.3% in the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 320 shares during the period. Elequin Capital LP increased its position in ON Semiconductor by 108.3% in the 4th 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. Opal Wealth Advisors LLC acquired a new position in ON Semiconductor in the 1st quarter valued at about $41,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in ON Semiconductor by 69.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock valued at $51,000 after acquiring an additional 518 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Benchmark reissued a "buy" rating and set a $60.00 price objective (up previously from $50.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. Citigroup lowered their target price on shares of ON Semiconductor from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, August 5th. Truist Financial lifted their target price on shares of ON Semiconductor from $43.00 to $49.00 and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and issued a $65.00 target price (down from $75.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group started coverage on shares of ON Semiconductor in a research note on Thursday, July 10th. They issued a "neutral" rating and a $60.00 target price for the company. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, ON Semiconductor currently has a consensus rating of "Hold" and an average target price of $56.84.

ON Semiconductor Stock Performance

Shares of ON Semiconductor stock traded up $2.91 during trading hours on Tuesday, reaching $50.01. The company's stock had a trading volume of 13,409,411 shares, compared to its average volume of 10,992,372. The company's 50 day simple moving average is $54.48 and its 200 day simple moving average is $47.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.37 and a current ratio of 5.02. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $78.61. The stock has a market cap of $20.45 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 2.35 and a beta of 1.45.

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 the consensus estimate of $0.54 by ($0.01). The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.45 billion. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The company's revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal 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.