Regents Gate Capital LLP Makes New Investment in ON Semiconductor Corporation (NASDAQ:ON)

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

A number of other institutional investors have also made changes to their positions in the business. Truvestments Capital LLC raised its position in ON Semiconductor by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock worth $357,000 after acquiring an additional 207 shares in the last quarter. Huntington National Bank raised 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 raised 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 raised 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 raised 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. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. B. Riley reissued a "neutral" rating and issued a $56.00 price objective (up from $40.00) on shares of ON Semiconductor in a research report on Wednesday, June 18th. Cantor Fitzgerald initiated coverage on shares of ON Semiconductor in a research report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 price target on the stock. Roth Capital reaffirmed a "buy" rating and set a $70.00 price target (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $57.65.

ON Semiconductor Trading Up 3.1%

Shares of NASDAQ:ON traded up $1.81 during mid-day trading on Thursday, hitting $59.58. The company had a trading volume of 3,663,716 shares, compared to its average volume of 8,322,415. The firm has a fifty day moving average price of $48.20 and a 200 day moving average price of $48.26. The company has a market capitalization of $24.90 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 4.75 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 Corporation has a one year low of $31.04 and a one year high of $80.08.

ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 EPS. As a group, research analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current year.

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.