Teacher Retirement System of Texas Has $2.53 Million Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

Teacher Retirement System of Texas boosted its stake in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 1,453.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 62,274 shares of the semiconductor company's stock after buying an additional 58,264 shares during the period. Teacher Retirement System of Texas' holdings in ON Semiconductor were worth $2,534,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Golden State Wealth Management LLC increased its position in shares of ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 320 shares during the last quarter. Elequin Capital LP grew 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 valued at $33,000 after buying an additional 274 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in ON Semiconductor during the first quarter worth $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in ON Semiconductor in the fourth quarter valued at $43,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 purchasing an additional 518 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ON shares. KGI Securities assumed coverage on ON Semiconductor in a research note on Friday, May 23rd. They set a "neutral" rating for the company. Wells Fargo & Company upped their target price on ON Semiconductor from $45.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Mizuho upped their price objective on ON Semiconductor from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Roth Capital restated a "buy" rating and issued a $70.00 price target (up from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Finally, Citigroup boosted their price objective on shares of ON Semiconductor from $40.00 to $60.00 and gave the company a "neutral" rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, ON Semiconductor has a consensus rating of "Moderate Buy" and a consensus target price of $57.81.

ON Semiconductor Price Performance

Shares of NASDAQ ON opened at $57.77 on Thursday. ON Semiconductor Corporation has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The stock has a fifty day moving average of $48.20 and a 200-day moving average of $48.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95. The stock has a market cap of $24.14 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 4.75 and a beta of 1.43.

ON Semiconductor (NASDAQ:ON - Get Free Report) last posted 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 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%. ON Semiconductor's revenue was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 EPS. Equities research 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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