TD Asset Management Inc reduced its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,521 shares of the semiconductor company's stock after selling 8,273 shares during the period. TD Asset Management Inc's holdings in ON Semiconductor were worth $8,444,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position 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 during the period. Sowell Financial Services LLC purchased a new position in shares of ON Semiconductor in the 1st quarter worth $222,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of ON Semiconductor by 15.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company's stock worth $1,070,000 after purchasing an additional 2,209 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of ON Semiconductor by 57.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company's stock worth $264,000 after purchasing an additional 2,353 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in ON Semiconductor by 1,453.0% in the 1st quarter. Teacher Retirement System of Texas now owns 62,274 shares of the semiconductor company's stock valued at $2,534,000 after buying an additional 58,264 shares during the period. 97.70% of the stock is owned by institutional investors.
ON Semiconductor Price Performance
Shares of NASDAQ:ON traded up $0.46 on Friday, reaching $56.82. 14,272,434 shares of the company were exchanged, compared to its average volume of 8,418,702. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a 1-year low of $31.04 and a 1-year high of $78.61. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 4.67 and a beta of 1.45. The company has a 50-day moving average of $53.83 and a 200-day moving average of $47.80.
ON Semiconductor (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The firm's quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. Equities analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently commented on ON shares. Rosenblatt Securities reiterated a "neutral" rating and set a $42.00 price objective on shares of ON Semiconductor in a research note on Tuesday, May 6th. Loop Capital decreased their price objective 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. B. Riley reissued a "neutral" rating and issued a $56.00 price target (up from $40.00) on shares of ON Semiconductor in a research note on Wednesday, June 18th. 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. Finally, Morgan Stanley started coverage on shares of ON Semiconductor in a report on Monday, May 12th. They issued an "equal weight" rating and a $39.00 price objective for the company. Fourteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.13.
Check Out Our Latest Report on ON
About ON Semiconductor
(
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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