Oak Thistle LLC lifted its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 237.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,545 shares of the semiconductor company's stock after buying an additional 19,376 shares during the quarter. Oak Thistle LLC's holdings in ON Semiconductor were worth $1,121,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Huntington National Bank raised its stake in ON Semiconductor by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock valued at $209,000 after purchasing an additional 271 shares in the last quarter. Elequin Capital LP raised its stake in ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. NewEdge Advisors LLC raised its stake in ON Semiconductor by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company's stock valued at $1,674,000 after purchasing an additional 312 shares in the last quarter. Golden State Wealth Management LLC raised its stake in ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in ON Semiconductor by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 22,369 shares of the semiconductor company's stock valued at $1,304,000 after purchasing an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.
ON Semiconductor Trading Up 2.7%
NASDAQ:ON traded up $1.48 on Friday, reaching $56.92. 8,072,353 shares of the company's stock were exchanged, compared to its average volume of 8,120,493. ON Semiconductor Corporation has a 52-week low of $31.04 and a 52-week high of $80.08. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 39.53, a price-to-earnings-growth ratio of 4.68 and a beta of 1.43. 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 business has a fifty day moving average of $52.38 and a 200-day moving average of $47.73.
ON Semiconductor (NASDAQ:ON - Get Free Report) last announced 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. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The business's revenue for the quarter was down 22.4% on a year-over-year basis. As a group, analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ON. The Goldman Sachs Group began coverage on shares of ON Semiconductor in a research report on Thursday, July 10th. They set a "neutral" rating and a $60.00 price objective on the stock. Morgan Stanley initiated coverage on shares of ON Semiconductor in a research report on Monday, May 12th. They set an "equal weight" rating and a $39.00 price objective on the stock. Mizuho upped their price target on shares of ON Semiconductor from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Needham & Company LLC cut their price target on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Loop Capital cut their price target on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, ON Semiconductor currently has a consensus rating of "Hold" and a consensus target price of $58.73.
Read Our Latest Report on ON Semiconductor
ON Semiconductor 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.
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