Principal Financial Group Inc. lowered its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 474,881 shares of the semiconductor company's stock after selling 10,659 shares during the period. Principal Financial Group Inc. owned 0.11% of ON Semiconductor worth $19,323,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in ON Semiconductor by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after buying an additional 344,354 shares in the last quarter. Janus Henderson Group PLC boosted its stake in ON Semiconductor by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Norges Bank purchased a new stake in ON Semiconductor during the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC boosted its stake in ON Semiconductor by 26.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock valued at $203,462,000 after purchasing an additional 1,055,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in ON Semiconductor by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after purchasing an additional 771,610 shares during the last quarter. Institutional investors own 97.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on ON. Stifel Nicolaus dropped their price target on ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Rosenblatt Securities reiterated a "neutral" rating and set a $42.00 target price on shares of ON Semiconductor in a research report on Tuesday, May 6th. Benchmark lowered their target price on ON Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on ON Semiconductor from $45.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Robert W. Baird lowered their target price on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $57.65.
View Our Latest Stock Analysis on ON
ON Semiconductor Price Performance
Shares of ON stock traded up $0.21 during mid-day trading on Friday, hitting $59.73. 6,355,578 shares of the stock were exchanged, compared to its average volume of 8,357,114. The firm has a fifty day moving average of $48.95 and a 200 day moving average of $48.01. 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 52-week low of $31.04 and a 52-week high of $80.08. The company has a market cap of $24.96 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 4.93 and a beta of 1.43.
ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. ON Semiconductor's quarterly revenue was down 22.4% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS. Research analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
ON Semiconductor Profile
(
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.
Featured Articles
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
