Raymond James Financial Inc. Trims Stock Position in ON Semiconductor Corporation $ON

Key Points

• Raymond James Financial Inc. reduced its stake in ON Semiconductor by 15.6%, now holding 188,736 shares valued at approximately $7.68 million.
• Despite a quarterly earnings miss where ON reported $0.53 EPS against an expectation of $0.54, the company's revenue of $1.47 billion exceeded estimates.
• Analysts have mixed views on ON Semiconductor, with target prices ranging from $50.00 to $68.00 and a consensus rating of "Hold."

Raymond James Financial Inc. lowered its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,736 shares of the semiconductor company's stock after selling 34,909 shares during the period. Raymond James Financial Inc.'s holdings in ON Semiconductor were worth $7,680,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Elequin Capital LP grew its stake in ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 274 shares in the last quarter. Costello Asset Management INC purchased a new position in ON Semiconductor during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC grew its stake in ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in ON Semiconductor during the first quarter valued at approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in ON Semiconductor by 69.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock valued at $51,000 after acquiring an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Susquehanna reiterated a "positive" rating and set a $65.00 target price (down from $75.00) on shares of ON Semiconductor in a research report on Tuesday, August 5th. TD Cowen dropped their target price on shares of ON Semiconductor from $68.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Wells Fargo & Company dropped their target price on shares of ON Semiconductor from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus lifted their target price on shares of ON Semiconductor from $42.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $56.84.

ON Semiconductor Trading Down 2.3%

Shares of ON opened at $49.59 on Tuesday. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 2.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.37 and a current ratio of 5.02. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $78.61. The firm has a 50 day moving average price of $54.06 and a 200-day moving average price of $47.33.

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 analysts' consensus estimates of $0.54 by ($0.01). The business had revenue of $1.47 billion during 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 company's revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. ON Semiconductor has set its Q3 2025 guidance at 0.540-0.640 EPS. As a group, equities research analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Insider Buying and Selling at ON Semiconductor

In other news, CEO Hassane El-Khoury sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $51.22, for a total value of $768,300.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company's stock.

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.

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