State of Alaska Department of Revenue Acquires 25,805 Shares of ON Semiconductor Corporation (NASDAQ:ON)

State of Alaska Department of Revenue grew its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 34.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,314 shares of the semiconductor company's stock after purchasing an additional 25,805 shares during the quarter. State of Alaska Department of Revenue's holdings in ON Semiconductor were worth $4,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ON. Elequin Capital LP raised its holdings in ON Semiconductor by 108.3% in the 4th 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 period. Opal Wealth Advisors LLC bought a new position in ON Semiconductor in the 1st quarter worth $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in ON Semiconductor in the 4th quarter worth $43,000. Plato Investment Management Ltd bought a new position in ON Semiconductor in the 4th quarter worth $51,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in ON Semiconductor by 69.5% in 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. Institutional investors own 97.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Needham & Company LLC dropped their price objective on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. B. Riley restated a "neutral" rating and set a $56.00 price objective (up previously from $40.00) on shares of ON Semiconductor in a report on Wednesday. Citigroup dropped their price objective on shares of ON Semiconductor from $52.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, UBS Group dropped their price objective on shares of ON Semiconductor from $55.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ON Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.62.

ON Semiconductor Trading Up 1.1%

ON opened at $52.82 on Friday. 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 cap of $22.07 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 4.26 and a beta of 1.39. The firm has a 50 day simple moving average of $43.53 and a 200 day simple moving average of $49.29. 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 quarterly 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 business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. ON Semiconductor's revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, sell-side analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current 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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