Bartlett & CO. Wealth Management LLC Sells 4,798 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Bartlett & CO. Wealth Management LLC trimmed its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 29.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,382 shares of the semiconductor company's stock after selling 4,798 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in ON Semiconductor were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position 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 worth $29,000 after purchasing an additional 320 shares during the period. 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 in the last quarter. Opal Wealth Advisors LLC acquired a new stake in ON Semiconductor during the 1st quarter worth about $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of ON Semiconductor in the fourth quarter worth about $43,000. Finally, Plato Investment Management Ltd purchased a new position in shares of ON Semiconductor in the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 97.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ON. KGI Securities initiated coverage on shares of ON Semiconductor in a research report on Friday, May 23rd. They issued a "neutral" rating for the company. JPMorgan Chase & Co. decreased their target price on ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird lowered their price target on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. KeyCorp decreased their price objective on shares of ON Semiconductor from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Stifel Nicolaus cut their target price on shares of ON Semiconductor from $52.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. 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, ON Semiconductor has a consensus rating of "Moderate Buy" and a consensus price target of $56.08.

ON Semiconductor Price Performance

Shares of ON stock traded down $0.35 during trading hours on Monday, reaching $52.58. 717,385 shares of the company were exchanged, compared to its average volume of 8,233,285. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. The stock's fifty day moving average is $45.39 and its two-hundred day moving average is $48.58. The company has a market cap of $21.97 billion, a price-to-earnings ratio of 36.71, a P/E/G ratio of 4.32 and a beta of 1.39.

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

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.