QRG Capital Management Inc. lifted its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 16.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,629 shares of the semiconductor company's stock after purchasing an additional 6,186 shares during the quarter. QRG Capital Management Inc.'s holdings in ON Semiconductor were worth $1,775,000 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. Vanguard Group Inc. raised its holdings in shares of ON Semiconductor by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock worth $3,224,081,000 after buying an additional 344,354 shares in the last quarter. Janus Henderson Group PLC grew its position in ON Semiconductor by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock valued at $780,387,000 after acquiring an additional 1,041,989 shares during the period. Norges Bank acquired a new position in ON Semiconductor during the fourth quarter worth $378,312,000. Dimensional Fund Advisors LP lifted its holdings in shares of ON Semiconductor by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after acquiring an additional 771,610 shares during the period. Finally, Capital International Investors boosted its stake in shares of ON Semiconductor by 0.7% in the 4th quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company's stock valued at $265,737,000 after purchasing an additional 31,365 shares in the last quarter. 97.70% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ON. KGI Securities began coverage on shares of ON Semiconductor in a research report on Friday, May 23rd. They set a "neutral" rating for the company. Cantor Fitzgerald began coverage on shares of ON Semiconductor in a research note on Wednesday. They set a "neutral" rating and a $55.00 price objective on the stock. Needham & Company LLC cut their target price on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus reduced their target price on ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Finally, KeyCorp dropped their price target on ON Semiconductor from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Thirteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.62.
Check Out Our Latest Research Report on ON Semiconductor
ON Semiconductor Trading Up 1.1%
ON stock traded up $0.56 during midday trading on Friday, reaching $52.82. The company's stock had a trading volume of 12,891,183 shares, compared to its average volume of 8,213,656. The business's 50-day simple moving average is $43.18 and its 200-day simple moving average is $49.40. 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 52 week low of $31.04 and a 52 week high of $80.08. The stock has a market cap of $22.07 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 4.26 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 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. ON Semiconductor's revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. As a group, sell-side analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current year.
ON Semiconductor Company 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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