Mn Services Vermogensbeheer B.V. Sells 12,100 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Mn Services Vermogensbeheer B.V. cut its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,800 shares of the semiconductor company's stock after selling 12,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in ON Semiconductor were worth $6,340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elequin Capital LP lifted its position in shares of ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 274 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in ON Semiconductor during the first quarter worth about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in ON Semiconductor in the fourth quarter valued at approximately $43,000. Plato Investment Management Ltd purchased a new stake in shares of ON Semiconductor in the fourth quarter worth about $51,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of ON Semiconductor by 69.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock valued at $51,000 after purchasing an additional 518 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

ON Semiconductor Stock Performance

NASDAQ ON traded up $0.56 during trading on Friday, hitting $52.82. The company's stock had a trading volume of 12,358,404 shares, compared to its average volume of 8,213,561. 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 market cap of $22.07 billion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 4.26 and a beta of 1.39. The firm has a 50 day moving average price of $43.18 and a 200 day moving average price of $49.40.

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. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.08 EPS. The firm's revenue was down 22.4% on a year-over-year basis. Equities research analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC reduced 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 report on Tuesday, May 6th. Morgan Stanley began coverage on ON Semiconductor in a report on Monday, May 12th. They set an "equal weight" rating and a $39.00 price target on the stock. Loop Capital dropped their price target on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Citigroup lowered their price objective on shares of ON Semiconductor from $52.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, UBS Group reduced their target price 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, ON Semiconductor has a consensus rating of "Moderate Buy" and an average target price of $55.62.

ON Semiconductor Company 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.