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

Regents Gate Capital LLP acquired a new stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 167,759 shares of the semiconductor company's stock, valued at approximately $6,826,000. ON Semiconductor comprises 2.9% of Regents Gate Capital LLP's portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also made changes to their positions in ON. Proficio Capital Partners LLC purchased a new position in ON Semiconductor during the 4th quarter worth approximately $4,782,000. Moran Wealth Management LLC grew its stake in ON Semiconductor by 30.4% during the 4th quarter. Moran Wealth Management LLC now owns 45,797 shares of the semiconductor company's stock worth $2,888,000 after buying an additional 10,682 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in ON Semiconductor by 9.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 166,825 shares of the semiconductor company's stock worth $10,518,000 after buying an additional 14,229 shares during the last quarter. Independent Advisor Alliance grew its stake in ON Semiconductor by 25.6% during the 4th quarter. Independent Advisor Alliance now owns 4,420 shares of the semiconductor company's stock worth $279,000 after buying an additional 901 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in ON Semiconductor by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock worth $357,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on ON shares. Mizuho lifted their target price on ON Semiconductor from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Robert W. Baird reduced their target price on shares of ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. KeyCorp raised their target price on shares of ON Semiconductor from $50.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday. Morgan Stanley started coverage on shares of ON Semiconductor in a research note on Monday, May 12th. They issued an "equal weight" rating and a $39.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of ON Semiconductor from $45.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $57.65.

ON Semiconductor Stock Up 3.0%

Shares of NASDAQ:ON traded up $1.75 during trading on Thursday, hitting $59.52. The company's stock had a trading volume of 8,442,527 shares, compared to its average volume of 8,351,675. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The stock's 50-day moving average price is $48.60 and its two-hundred day moving average price is $48.21. The company has a market capitalization of $24.87 billion, a PE ratio of 41.33, a PEG ratio of 4.76 and a beta of 1.43.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The company's revenue was down 22.4% compared to the same quarter last year. As a group, sell-side analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current year.

ON Semiconductor Company 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.