Skylands Capital LLC Has $3.45 Million Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

Skylands Capital LLC raised its stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 84,720 shares of the semiconductor company's stock after purchasing an additional 11,800 shares during the quarter. Skylands Capital LLC's holdings in ON Semiconductor were worth $3,447,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ON. Norges Bank bought a new stake in ON Semiconductor in the fourth quarter valued at about $378,312,000. Allspring Global Investments Holdings LLC increased its stake in ON Semiconductor by 26.3% in the first 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 period. Janus Henderson Group PLC increased its stake in ON Semiconductor by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock valued at $780,387,000 after acquiring an additional 1,041,989 shares during the period. Freestone Grove Partners LP bought a new stake in ON Semiconductor in the fourth quarter valued at about $62,426,000. Finally, Dimensional Fund Advisors LP increased its stake in ON Semiconductor by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after acquiring an additional 771,610 shares during the period. Institutional investors own 97.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ON shares. Cantor Fitzgerald started coverage on shares of ON Semiconductor in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 target price on the stock. Stifel Nicolaus decreased their price objective on shares of ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Loop Capital decreased their price objective on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $42.00 price objective on shares of ON Semiconductor in a research note on Tuesday, May 6th. Finally, Roth Capital reaffirmed a "buy" rating and set a $70.00 price objective (up from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.08.

ON Semiconductor Price Performance

Shares of ON stock traded down $0.72 during trading hours on Friday, reaching $52.93. 7,894,458 shares of the company were exchanged, compared to its average volume of 8,262,768. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The stock's fifty day moving average is $45.39 and its two-hundred day moving average is $48.71. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 4.32 and a beta of 1.39. 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 earnings per share for the quarter, beating 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 business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted $1.08 earnings per share. ON Semiconductor's revenue was down 22.4% compared to the same quarter last year. Sell-side analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share 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.