Moran Wealth Management LLC increased its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 35.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,861 shares of the semiconductor company's stock after purchasing an additional 16,064 shares during the quarter. Moran Wealth Management LLC's holdings in ON Semiconductor were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in ON Semiconductor in the 1st quarter worth about $222,000. Wealth Enhancement Advisory Services LLC boosted its position in 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 acquiring an additional 2,209 shares during the period. Exchange Traded Concepts LLC boosted its position in 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 acquiring an additional 2,353 shares during the period. Blair William & Co. IL boosted its position in ON Semiconductor by 52.7% during the 4th quarter. Blair William & Co. IL now owns 4,239 shares of the semiconductor company's stock worth $267,000 after acquiring an additional 1,463 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in ON Semiconductor by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company's stock worth $156,884,000 after acquiring an additional 83,665 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Loop Capital decreased their price objective on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird decreased their price objective on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Rosenblatt Securities restated a "neutral" rating and set a $42.00 price objective on shares of ON Semiconductor in a research report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on ON Semiconductor from $45.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Thirteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.08.
Read Our Latest Report on ON
ON Semiconductor Stock Performance
Shares of ON traded down $0.72 on Friday, reaching $52.93. 7,894,458 shares of the stock traded hands, compared to its average volume of 8,250,748. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 4.37 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $80.08. The stock's 50-day moving average price is $45.39 and its 200-day moving average price is $48.84.
ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.45 billion for 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 quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. Equities analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.
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.
Recommended Stories
Before you consider ON Semiconductor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ON Semiconductor wasn't on the list.
While ON Semiconductor currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
