Rock Point Advisors LLC Acquires 31,049 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Rock Point Advisors LLC raised its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 98.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,439 shares of the semiconductor company's stock after buying an additional 31,049 shares during the period. Rock Point Advisors LLC's holdings in ON Semiconductor were worth $2,541,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of ON Semiconductor by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after buying an additional 320 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of ON Semiconductor in the 1st quarter worth about $222,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of ON Semiconductor by 15.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company's stock worth $1,070,000 after purchasing an additional 2,209 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in ON Semiconductor by 57.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company's stock valued at $264,000 after acquiring an additional 2,353 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in ON Semiconductor by 52.7% during the 4th quarter. Blair William & Co. IL now owns 4,239 shares of the semiconductor company's stock valued at $267,000 after buying an additional 1,463 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ON. Citigroup upped their price objective on ON Semiconductor from $40.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday. TD Cowen upped their price objective on shares of ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Roth Capital restated a "buy" rating and issued a $70.00 price target (up previously from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Finally, Cantor Fitzgerald assumed coverage on shares of ON Semiconductor in a report on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.81.

ON Semiconductor Price Performance

Shares of ON opened at $57.77 on Thursday. The business's 50-day moving average is $48.20 and its 200-day moving average is $48.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. The company has a market capitalization of $24.14 billion, a price-to-earnings ratio of 40.12, a P/E/G ratio of 4.75 and a beta of 1.43. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $80.08.

ON Semiconductor (NASDAQ:ON - Get Free Report) last posted its 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 net margin of 9.51% and a return on equity of 17.40%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $1.08 earnings per share. The business's quarterly revenue was down 22.4% on a year-over-year basis. Equities research analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal 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.

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