South Dakota Investment Council Grows Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

South Dakota Investment Council grew its stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 202.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,800 shares of the semiconductor company's stock after purchasing an additional 11,250 shares during the quarter. South Dakota Investment Council's holdings in ON Semiconductor were worth $684,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ON. Golden State Wealth Management LLC boosted its position in shares of ON Semiconductor by 83.3% in the 1st 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. Elequin Capital LP boosted its holdings 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 worth $33,000 after buying an additional 274 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of ON Semiconductor in the first quarter worth $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of ON Semiconductor in the fourth quarter worth $43,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in ON Semiconductor by 69.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company's stock worth $51,000 after acquiring an additional 518 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird reduced their price objective on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. UBS Group reaffirmed a "neutral" rating and issued a $55.00 price target (up previously from $45.00) on shares of ON Semiconductor in a research report on Monday, July 7th. KeyCorp boosted their target price on shares of ON Semiconductor from $50.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on shares of ON Semiconductor from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, TD Cowen upped their target price on ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, ON Semiconductor presently has a consensus rating of "Hold" and a consensus target price of $58.73.

ON Semiconductor Trading Up 1.0%

NASDAQ ON traded up $0.55 during trading on Friday, hitting $55.99. The company had a trading volume of 1,815,167 shares, compared to its average volume of 9,888,583. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $80.08. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 4.92 and a beta of 1.43. The company's fifty day moving average is $52.14 and its 200-day moving average is $47.84.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the company posted $1.08 EPS. ON Semiconductor's revenue was down 22.4% on a year-over-year basis. On average, sell-side analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

About ON Semiconductor

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.