IFM Investors Pty Ltd Has $3.48 Million Stake in ON Semiconductor Corporation (NASDAQ:ON)

IFM Investors Pty Ltd increased its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,542 shares of the semiconductor company's stock after buying an additional 8,404 shares during the period. IFM Investors Pty Ltd's holdings in ON Semiconductor were worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ON. Proficio Capital Partners LLC bought a new position in ON Semiconductor in the 4th quarter valued at $4,782,000. Moran Wealth Management LLC grew its stake in shares of ON Semiconductor by 30.4% in the 4th quarter. Moran Wealth Management LLC now owns 45,797 shares of the semiconductor company's stock worth $2,888,000 after buying an additional 10,682 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of ON Semiconductor by 9.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 166,825 shares of the semiconductor company's stock worth $10,518,000 after acquiring an additional 14,229 shares during the last quarter. Independent Advisor Alliance lifted its holdings in ON Semiconductor by 25.6% during the 4th quarter. Independent Advisor Alliance now owns 4,420 shares of the semiconductor company's stock valued at $279,000 after buying an additional 901 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in ON Semiconductor by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 207 shares during the period. Institutional investors own 97.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ON. KeyCorp increased their price target on shares of ON Semiconductor from $50.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday. Loop Capital cut their price objective on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley began coverage on shares of ON Semiconductor in a research note on Monday, May 12th. They issued an "equal weight" rating and a $39.00 price objective on the stock. B. Riley restated a "neutral" rating and set a $56.00 price target (up previously from $40.00) on shares of ON Semiconductor in a report on Wednesday, June 18th. Finally, Roth Capital reaffirmed a "buy" rating and set a $70.00 price objective (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.81.

ON Semiconductor Trading Down 0.3%

NASDAQ:ON traded down $0.20 during trading hours on Wednesday, reaching $57.42. 1,197,096 shares of the stock were exchanged, compared to its average volume of 8,308,814. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 4.50 and a beta of 1.43. 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 twelve month low of $31.04 and a twelve month high of $80.08. The business has a 50-day moving average of $47.84 and a two-hundred day moving average of $48.19.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.51% and a return on equity of 17.40%. The business's quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. On average, equities analysts predict that ON Semiconductor Corporation will post 2.6 EPS for the current year.

ON Semiconductor Company 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.