Readystate Asset Management LP decreased its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 60.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,655 shares of the semiconductor company's stock after selling 33,223 shares during the period. Readystate Asset Management LP's holdings in ON Semiconductor were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. HighPoint Advisor Group LLC grew its stake in ON Semiconductor by 10.7% in the 1st quarter. HighPoint Advisor Group LLC now owns 10,920 shares of the semiconductor company's stock worth $424,000 after acquiring an additional 1,055 shares in the last quarter. Carmel Capital Partners LLC increased its holdings in ON Semiconductor by 56.1% in the first quarter. Carmel Capital Partners LLC now owns 41,841 shares of the semiconductor company's stock valued at $1,703,000 after buying an additional 15,043 shares in the last quarter. South Dakota Investment Council increased its stake in shares of ON Semiconductor by 202.7% during the first quarter. South Dakota Investment Council now owns 16,800 shares of the semiconductor company's stock worth $684,000 after purchasing an additional 11,250 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of ON Semiconductor by 15.2% during the first quarter. Kestra Private Wealth Services LLC now owns 5,377 shares of the semiconductor company's stock worth $219,000 after purchasing an additional 711 shares in the last quarter. Finally, Easterly Investment Partners LLC boosted its position in ON Semiconductor by 5.3% during the first quarter. Easterly Investment Partners LLC now owns 72,429 shares of the semiconductor company's stock worth $2,947,000 after acquiring an additional 3,671 shares during the last quarter. Institutional investors own 97.70% of the company's stock.
ON Semiconductor Stock Performance
ON Semiconductor stock traded down $4.17 during mid-day trading on Thursday, reaching $55.44. 16,148,390 shares of the company's stock were exchanged, compared to its average volume of 7,656,911. The business's fifty day simple moving average is $51.92 and its 200 day simple moving average is $47.90. The firm has a market capitalization of $23.17 billion, a PE ratio of 38.50, a P/E/G ratio of 4.92 and a beta of 1.43. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $80.08. 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 (NASDAQ:ON - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. On average, sell-side analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
Wall Street Analyst Weigh In
ON has been the topic of several recent research reports. Benchmark cut their target price on shares of ON Semiconductor from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. KeyCorp raised their price objective on shares of ON Semiconductor from $50.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Loop Capital lowered their price target on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Rosenblatt Securities reiterated a "neutral" rating and set a $42.00 price target on shares of ON Semiconductor in a report on Tuesday, May 6th. Finally, Morgan Stanley began coverage on shares of ON Semiconductor in a report on Monday, May 12th. They set an "equal weight" rating and a $39.00 price target for the company. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $58.73.
Read Our Latest Stock Analysis on ON Semiconductor
About ON Semiconductor
(
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.
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