ON Semiconductor Corporation (NASDAQ:ON) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC grew its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 39.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,668 shares of the semiconductor company's stock after buying an additional 68,991 shares during the period. Penserra Capital Management LLC owned approximately 0.06% of ON Semiconductor worth $9,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC raised its stake in shares of 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 acquiring an additional 320 shares in the last quarter. Elequin Capital LP grew its holdings in shares of 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 buying an additional 274 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in ON Semiconductor during the first quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in ON Semiconductor during the fourth quarter valued at $43,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in ON Semiconductor by 69.5% during 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 hedge funds and other institutional investors.

ON Semiconductor Price Performance

Shares of NASDAQ ON traded up $3.10 during midday trading on Tuesday, hitting $57.71. The company had a trading volume of 1,949,638 shares, compared to its average volume of 9,996,475. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $80.08. The business has a 50-day simple moving average of $47.46 and a two-hundred day simple moving average of $48.12. The firm has a market capitalization of $24.12 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 4.67 and a beta of 1.43.

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, 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 firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the business earned $1.08 earnings per share. The business's revenue for the quarter was down 22.4% compared to the same quarter last year. Equities research analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ON. Loop Capital reduced their price target on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Benchmark dropped their price target on shares of ON Semiconductor from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Cantor Fitzgerald began coverage on shares of ON Semiconductor in a research report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 price objective for the company. Citigroup increased their price objective on shares of ON Semiconductor from $40.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on shares of ON Semiconductor from $45.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $57.42.

About ON Semiconductor

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.