Slow Capital Inc. Grows Stake in ON Semiconductor Corporation (NASDAQ:ON)

Slow Capital Inc. raised its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 114.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,112 shares of the semiconductor company's stock after buying an additional 61,407 shares during the period. Slow Capital Inc.'s holdings in ON Semiconductor were worth $4,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of ON Semiconductor in the fourth quarter valued at $4,782,000. Independent Advisor Alliance grew its stake in ON Semiconductor by 25.6% in 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 during the last quarter. Vestcor Inc grew its stake in ON Semiconductor by 179.4% in the 4th quarter. Vestcor Inc now owns 21,457 shares of the semiconductor company's stock valued at $1,353,000 after buying an additional 13,778 shares during the last quarter. LBP AM SA acquired a new position in ON Semiconductor in the 4th quarter valued at about $2,291,000. Finally, one8zero8 LLC acquired a new position in shares of ON Semiconductor in the fourth quarter valued at approximately $3,022,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Roth Capital reissued a "buy" rating and set a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a report on Tuesday, June 17th. Cantor Fitzgerald started coverage on shares of ON Semiconductor in a research report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of ON Semiconductor in a research report on Thursday, July 10th. They set a "neutral" rating and a $60.00 price target on the stock. KeyCorp raised their target price on ON Semiconductor from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Loop Capital reduced their target price on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, ON Semiconductor currently has a consensus rating of "Hold" and a consensus price target of $57.85.

ON Semiconductor Trading Up 1.0%

Shares of ON Semiconductor stock traded up $0.59 during trading on Wednesday, reaching $59.52. 6,547,379 shares of the stock were exchanged, compared to its average volume of 8,354,336. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. The stock's fifty day moving average is $49.77 and its 200 day moving average is $47.91. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 4.87 and a beta of 1.43. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $80.08.

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