Simmons Bank grew its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 89.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 39,357 shares of the semiconductor company's stock after buying an additional 18,529 shares during the period. Simmons Bank's holdings in ON Semiconductor were worth $1,601,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of ON Semiconductor by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock worth $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Janus Henderson Group PLC grew its holdings in ON Semiconductor by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after acquiring an additional 1,041,989 shares during the period. Norges Bank bought a new stake in shares of ON Semiconductor during the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC raised its position in shares of ON Semiconductor by 26.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock valued at $203,462,000 after acquiring an additional 1,055,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ON Semiconductor by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after purchasing an additional 771,610 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Roth Capital reiterated a "buy" rating and issued a $70.00 price target (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. KGI Securities initiated coverage on shares of ON Semiconductor in a report on Friday, May 23rd. They issued a "neutral" rating on the stock. Cantor Fitzgerald began 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. Needham & Company LLC lowered their price objective on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Loop Capital reduced their target price on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, ON Semiconductor has an average rating of "Moderate Buy" and an average price target of $56.08.
Check Out Our Latest Research Report on ON Semiconductor
ON Semiconductor Stock Performance
ON stock traded up $0.85 during midday trading on Friday, reaching $56.80. 5,572,172 shares of the company were exchanged, compared to its average volume of 8,320,801. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $80.08. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 4.67 and a beta of 1.43. The business has a 50-day moving average price of $47.17 and a two-hundred day moving average price of $48.32. 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 earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $1.08 earnings per share. Equities research analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current year.
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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