Platform Technology Partners Purchases Shares of 6,000 ON Semiconductor Corporation (NASDAQ:ON)

Platform Technology Partners acquired a new stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the semiconductor company's stock, valued at approximately $244,000.

Other large investors have also added to or reduced their stakes in the company. Xponance Inc. raised its stake in shares of ON Semiconductor by 1.5% in the first quarter. Xponance Inc. now owns 58,860 shares of the semiconductor company's stock worth $2,395,000 after purchasing an additional 888 shares during the last quarter. Robeco Schweiz AG increased its position in ON Semiconductor by 5.3% during the first quarter. Robeco Schweiz AG now owns 1,299,042 shares of the semiconductor company's stock valued at $52,858,000 after acquiring an additional 65,042 shares during the last quarter. Rock Point Advisors LLC increased its position in ON Semiconductor by 98.9% during the first quarter. Rock Point Advisors LLC now owns 62,439 shares of the semiconductor company's stock valued at $2,541,000 after acquiring an additional 31,049 shares during the last quarter. Iridian Asset Management LLC CT increased its position in ON Semiconductor by 19.4% during the first quarter. Iridian Asset Management LLC CT now owns 105,460 shares of the semiconductor company's stock valued at $4,291,000 after acquiring an additional 17,105 shares during the last quarter. Finally, LBP AM SA increased its position in ON Semiconductor by 139.2% during the first quarter. LBP AM SA now owns 86,926 shares of the semiconductor company's stock valued at $3,537,000 after acquiring an additional 50,592 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

ON Semiconductor Price Performance

NASDAQ ON traded up $0.21 during mid-day trading on Friday, hitting $59.73. The stock had a trading volume of 6,355,578 shares, compared to its average volume of 8,357,114. The firm's 50 day moving average is $48.95 and its 200 day moving average is $48.01. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $80.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 4.93 and a beta of 1.43.

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 (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 return on equity of 17.40% and a net margin of 9.51%. The firm's quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Equities research analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ON. TD Cowen upped their price objective on ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Rosenblatt Securities reissued a "neutral" rating and set a $42.00 price target on shares of ON Semiconductor in a report on Tuesday, May 6th. Loop Capital cut their price target on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on ON Semiconductor from $52.00 to $42.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $57.65.

ON Semiconductor 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.