Mirae Asset Global Investments Co. Ltd. Buys 62,259 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 8.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 758,340 shares of the semiconductor company's stock after acquiring an additional 62,259 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.18% of ON Semiconductor worth $31,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Elequin Capital LP increased its stake in ON Semiconductor by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 274 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of ON Semiconductor in the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC grew its holdings in shares of ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 320 shares during the last quarter. Plato Investment Management Ltd bought a new stake in ON Semiconductor during the 4th quarter valued at $51,000. Finally, Rakuten Securities Inc. raised its holdings in ON Semiconductor by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock valued at $54,000 after buying an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

ON Semiconductor Stock Down 0.7%

NASDAQ:ON traded down $0.35 during trading hours on Monday, reaching $52.58. 755,200 shares of the company traded hands, compared to its average volume of 10,072,746. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. The business's 50-day moving average price is $45.39 and its two-hundred day moving average price is $48.58. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $80.08. The stock has a market capitalization of $21.97 billion, a P/E ratio of 36.51, a P/E/G ratio of 4.32 and a beta of 1.39.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. ON Semiconductor's revenue was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. Analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

ON has been the topic of a number of analyst reports. UBS Group decreased their price objective on shares of ON Semiconductor from $55.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. B. Riley restated a "neutral" rating and set a $56.00 price target (up previously from $40.00) on shares of ON Semiconductor in a report on Wednesday, June 18th. Roth Capital reiterated a "buy" rating and issued a $70.00 price objective (up previously from $50.00) on shares of ON Semiconductor in a report on Tuesday, June 17th. KeyCorp reduced their target price on ON Semiconductor from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, KGI Securities assumed coverage on ON Semiconductor in a report on Friday, May 23rd. They set a "neutral" rating for the company. Thirteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.08.

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.