Spire Wealth Management grew its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 1,384.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,894 shares of the semiconductor company's stock after purchasing an additional 30,678 shares during the period. Spire Wealth Management's holdings in ON Semiconductor were worth $1,338,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ON. Truvestments Capital LLC increased its holdings in ON Semiconductor by 3.8% in the 4th 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. Assetmark Inc. boosted its holdings in ON Semiconductor by 0.3% in the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after buying an additional 235 shares during the last quarter. Huntington National Bank lifted 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 acquiring an additional 271 shares in the last quarter. Elequin Capital LP boosted its stake 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 acquiring an additional 274 shares during the last quarter. Finally, Simmons Bank increased its position in shares of ON Semiconductor by 1.5% during the fourth quarter. Simmons Bank now owns 20,828 shares of the semiconductor company's stock worth $1,313,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.
ON Semiconductor Stock Performance
NASDAQ:ON traded down $0.52 during mid-day trading on Monday, reaching $52.41. 7,093,948 shares of the stock were exchanged, compared to its average volume of 8,258,098. The stock has a market capitalization of $21.90 billion, a P/E ratio of 36.40, a P/E/G ratio of 4.32 and a beta of 1.39. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $80.08. The company has a 50 day simple moving average of $45.74 and a 200-day simple moving average of $48.49. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion for 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%. The company's revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. Analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their target price 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. JPMorgan Chase & Co. decreased their price target on ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Cantor Fitzgerald assumed coverage on ON Semiconductor in a research report on Wednesday, June 18th. They set a "neutral" rating and a $55.00 price objective for the company. Loop Capital decreased their target price on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Mizuho increased their target price on shares of ON Semiconductor from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, ON Semiconductor presently has an average rating of "Moderate Buy" and a consensus price target of $56.08.
Get Our Latest Stock Analysis on ON Semiconductor
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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