New York State Teachers Retirement System Sells 46,142 Shares of ON Semiconductor Corporation (NASDAQ:ON)

New York State Teachers Retirement System decreased its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 12.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 314,558 shares of the semiconductor company's stock after selling 46,142 shares during the period. New York State Teachers Retirement System owned about 0.07% of ON Semiconductor worth $12,799,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ON. Jones Financial Companies Lllp lifted its stake in ON Semiconductor by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 12,155 shares of the semiconductor company's stock valued at $766,000 after acquiring an additional 3,609 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of ON Semiconductor during the 4th quarter worth approximately $51,000. Charles Schwab Investment Management Inc. increased its position in shares of ON Semiconductor by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company's stock worth $156,884,000 after purchasing an additional 83,665 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of ON Semiconductor during the 4th quarter worth approximately $241,000. Finally, Assetmark Inc. increased its position in shares of ON Semiconductor by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ON. Mizuho boosted their price target on ON Semiconductor from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Needham & Company LLC lowered their price target on ON Semiconductor from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Loop Capital lowered their price target on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. TD Cowen boosted their price target on ON Semiconductor from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, B. Riley restated a "neutral" rating and issued a $56.00 price target (up previously from $40.00) on shares of ON Semiconductor in a research note on Wednesday, June 18th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.08.

ON Semiconductor Stock Up 1.5%

Shares of NASDAQ:ON traded up $0.85 during mid-day trading on Friday, hitting $56.80. 5,572,172 shares of the company traded hands, compared to its average volume of 8,299,633. The stock has a market cap of $23.73 billion, a P/E ratio of 39.44, a P/E/G ratio of 4.67 and a beta of 1.43. The company has a current ratio of 4.95, a quick ratio of 3.32 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 $80.08. The stock has a 50-day moving average price of $47.17 and a two-hundred day moving average price of $48.43.

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, beating the consensus estimate of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. ON Semiconductor's quarterly revenue was down 22.4% on a year-over-year basis. On average, equities research analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

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.