Aristeia Capital L.L.C. Sells 13,412 Shares of ON Semiconductor Corporation $ON

Key Points

• Aristeia Capital L.L.C. reduced its stake in ON Semiconductor by 53.7%, holding 11,555 shares valued at approximately $470,000 after selling 13,412 shares in the first quarter.
• CEO Hassane El-Khoury sold 15,000 shares of ON Semiconductor at an average price of $51.22, resulting in a total transaction value of $768,300 and a 1.51% decrease in his ownership.
• Despite a year-over-year revenue decline of 15.4%, ON Semiconductor reported earnings of $0.53 per share, which slightly missed analysts' expectations for the quarter.

Aristeia Capital L.L.C. cut its stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 53.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,555 shares of the semiconductor company's stock after selling 13,412 shares during the quarter. Aristeia Capital L.L.C.'s holdings in ON Semiconductor were worth $470,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ON. Baillie Gifford & Co. bought a new position in shares of ON Semiconductor during the first quarter valued at $219,001,000. Pacer Advisors Inc. lifted its holdings in shares of ON Semiconductor by 2,735.5% during the first quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company's stock valued at $87,330,000 after acquiring an additional 2,070,529 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of ON Semiconductor by 26.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock valued at $203,462,000 after buying an additional 1,055,461 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of 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 buying an additional 1,041,989 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of ON Semiconductor in the first quarter valued at about $38,548,000. 97.70% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Hassane El-Khoury sold 15,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total transaction of $768,300.00. Following the completion of the transaction, the chief executive officer directly owned 977,814 shares in the company, valued at approximately $50,083,633.08. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company's stock.

ON Semiconductor Trading Down 1.0%

NASDAQ:ON traded down $0.49 on Wednesday, hitting $48.13. 6,387,741 shares of the stock were exchanged, compared to its average volume of 6,507,217. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 44.98, a P/E/G ratio of 2.42 and a beta of 1.48. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $76.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.37 and a current ratio of 5.02. The company's 50-day moving average price is $53.32 and its 200 day moving average price is $47.17.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.45 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The business's revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. ON Semiconductor has set its Q3 2025 guidance at 0.540-0.640 EPS. On average, equities research analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ON. JPMorgan Chase & Co. lifted their price target on ON Semiconductor from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Truist Financial lifted their price target on ON Semiconductor from $43.00 to $49.00 and gave the company a "hold" rating in a report on Tuesday, August 5th. Rosenblatt Securities cut their price target on ON Semiconductor from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and issued a $65.00 price target (down from $75.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group began coverage on ON Semiconductor in a report on Thursday, July 10th. They issued a "neutral" rating and a $60.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $56.68.

About ON Semiconductor

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.