Townsquare Capital LLC Has $1.18 Million Position in ON Semiconductor Corporation (NASDAQ:ON)

Key Points

• Townsquare Capital LLC has increased its position in ON Semiconductor Corporation by 34.7% in the first quarter, now owning 29,107 shares valued at approximately $1.18 million.
• Analysts have set new price targets for ON Semiconductor, with JPMorgan Chase & Co. raising it from $48.00 to $56.00, while Robert W. Baird reduced their target from $42.00 to $34.00.
• ON Semiconductor reported a quarterly earnings miss with $0.53 EPS, slightly below the consensus estimate of $0.54, alongside revenue of $1.47 billion which exceeded expectations.

Townsquare Capital LLC increased its position in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 34.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,107 shares of the semiconductor company's stock after buying an additional 7,505 shares during the quarter. Townsquare Capital LLC's holdings in ON Semiconductor were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elequin Capital LP boosted its holdings in 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 acquiring an additional 274 shares during the last quarter. Exencial Wealth Advisors LLC boosted its holdings in ON Semiconductor by 5.2% in the first quarter. Exencial Wealth Advisors LLC now owns 6,034 shares of the semiconductor company's stock valued at $246,000 after acquiring an additional 296 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in ON Semiconductor by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company's stock valued at $1,674,000 after acquiring an additional 312 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in 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. Finally, Avantax Advisory Services Inc. boosted its holdings in ON Semiconductor by 4.8% in the first quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company's stock valued at $408,000 after acquiring an additional 463 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Analysts Set New Price Targets

ON has been the topic of several analyst reports. Robert W. Baird reduced their target price on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Piper Sandler restated an "overweight" rating on shares of ON Semiconductor in a report on Monday, August 4th. JPMorgan Chase & Co. increased their price target on ON Semiconductor from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Rosenblatt Securities cut their price target on ON Semiconductor from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, August 5th. Finally, Mizuho increased their price target on ON Semiconductor from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $56.84.

ON Semiconductor Trading Up 3.8%

NASDAQ ON opened at $51.89 on Thursday. The firm has a market capitalization of $21.22 billion, a P/E ratio of 48.50, a PEG ratio of 2.49 and a beta of 1.45. The business has a fifty day simple moving average of $54.51 and a 200 day simple moving average of $47.47. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $78.61. The company has a current ratio of 5.02, a quick ratio of 3.37 and a debt-to-equity ratio of 0.42.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The semiconductor company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.45 billion. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The company's quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. On average, analysts predict that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

ON Semiconductor Company 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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