Teacher Retirement System of Texas increased its holdings in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 1,453.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,274 shares of the semiconductor company's stock after acquiring an additional 58,264 shares during the period. Teacher Retirement System of Texas' holdings in ON Semiconductor were worth $2,534,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ON. Proficio Capital Partners LLC purchased a new stake in ON Semiconductor in the fourth quarter worth $4,782,000. Moran Wealth Management LLC increased its holdings in shares of ON Semiconductor by 30.4% in the 4th quarter. Moran Wealth Management LLC now owns 45,797 shares of the semiconductor company's stock worth $2,888,000 after buying an additional 10,682 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in ON Semiconductor by 9.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 166,825 shares of the semiconductor company's stock valued at $10,518,000 after acquiring an additional 14,229 shares during the last quarter. Independent Advisor Alliance raised its position in ON Semiconductor by 25.6% during the 4th quarter. Independent Advisor Alliance now owns 4,420 shares of the semiconductor company's stock valued at $279,000 after purchasing an additional 901 shares during the last quarter. Finally, Truvestments Capital LLC increased its stake in shares of ON Semiconductor by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after buying an additional 207 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on ON shares. JPMorgan Chase & Co. reduced their price target on shares of ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Loop Capital dropped their target price on ON Semiconductor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $42.00 price target on shares of ON Semiconductor in a report on Tuesday, May 6th. Needham & Company LLC dropped their price target on ON Semiconductor from $57.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Morgan Stanley started coverage on shares of ON Semiconductor in a report on Monday, May 12th. They set an "equal weight" rating and a $39.00 target price for the company. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, ON Semiconductor presently has a consensus rating of "Hold" and a consensus price target of $57.65.
View Our Latest Stock Analysis on ON
ON Semiconductor Trading Up 3.0%
Shares of ON traded up $1.75 during mid-day trading on Thursday, hitting $59.52. The company had a trading volume of 8,442,527 shares, compared to its average volume of 8,341,047. ON Semiconductor Corporation has a 1-year low of $31.04 and a 1-year high of $80.08. The business's 50-day simple moving average is $48.20 and its 200-day simple moving average is $48.26. The stock has a market cap of $24.87 billion, a PE ratio of 41.33, a P/E/G ratio of 4.75 and a beta of 1.43. 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 quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The company 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 for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the business earned $1.08 EPS. Sell-side analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
ON Semiconductor Profile
(
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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