Teachers Retirement System of The State of Kentucky lessened its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 53.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,524 shares of the semiconductor company's stock after selling 269,864 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of ON Semiconductor worth $9,543,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ON. Norges Bank purchased a new position in ON Semiconductor during the fourth quarter worth approximately $378,312,000. Allspring Global Investments Holdings LLC boosted its position in shares of ON Semiconductor by 26.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock worth $203,462,000 after purchasing an additional 1,055,461 shares during the period. Janus Henderson Group PLC raised 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 purchasing an additional 1,041,989 shares during the period. Freestone Grove Partners LP acquired a new position in ON Semiconductor during the fourth quarter worth $62,426,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of ON Semiconductor by 18.2% in 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 buying an additional 771,610 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.
ON Semiconductor Stock Up 2.2%
Shares of NASDAQ:ON opened at $60.72 on Monday. ON Semiconductor Corporation has a 12-month low of $31.04 and a 12-month high of $80.08. 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 firm has a market cap of $25.37 billion, a PE ratio of 42.17, a price-to-earnings-growth ratio of 5.01 and a beta of 1.43. The company has a fifty day simple moving average of $50.98 and a 200 day simple moving average of $47.74.
ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share 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%. The firm's revenue was down 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. On average, equities research analysts anticipate that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on ON. Citigroup boosted their price objective on ON Semiconductor from $40.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. KGI Securities assumed coverage on ON Semiconductor in a research note on Friday, May 23rd. They set a "neutral" rating for the company. Benchmark dropped their target price on shares of ON Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and issued a $65.00 target price (up from $60.00) on shares of ON Semiconductor in a research report on Wednesday, July 16th. Finally, Roth Capital restated a "buy" rating and set a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $58.15.
Read Our Latest Stock Analysis on ON
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.
See Also
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