Regents Gate Capital LLP Invests $6.83 Million in ON Semiconductor Corporation (NASDAQ:ON)

Regents Gate Capital LLP purchased a new position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 167,759 shares of the semiconductor company's stock, valued at approximately $6,826,000. ON Semiconductor makes up 2.9% of Regents Gate Capital LLP's holdings, making the stock its 16th largest holding.

Several other hedge funds also recently bought and sold shares of the stock. Truvestments Capital LLC grew its position in shares of ON Semiconductor by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 207 shares during the period. Huntington National Bank grew its position in shares of ON Semiconductor by 8.9% in the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock valued at $209,000 after purchasing an additional 271 shares during the period. Elequin Capital LP grew its position in shares of ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares during the period. NewEdge Advisors LLC grew its position in shares of ON Semiconductor by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company's stock valued at $1,674,000 after purchasing an additional 312 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

ON Semiconductor Price Performance

Shares of NASDAQ:ON traded up $0.21 on Friday, reaching $59.73. 6,355,578 shares of the company traded hands, compared to its average volume of 8,357,114. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The company's 50 day moving average is $48.95 and its 200-day moving average is $48.01. The stock has a market capitalization of $24.96 billion, a PE ratio of 41.48, a P/E/G ratio of 4.93 and a beta of 1.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company's quarterly revenue was down 22.4% compared to the same quarter last year. As a group, analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ON. 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 report on Monday, June 16th. The Goldman Sachs Group began coverage on ON Semiconductor in a report on Thursday. They issued a "neutral" rating and a $60.00 target price on the stock. Citigroup lifted their target price on ON Semiconductor from $40.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, July 7th. Morgan Stanley assumed coverage on ON Semiconductor in a research note on Monday, May 12th. They set an "equal weight" rating and a $39.00 price objective on the stock. Finally, B. Riley restated a "neutral" rating and set a $56.00 price objective (up previously from $40.00) on shares of ON Semiconductor in a research note on Wednesday, June 18th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.