Unison Advisors LLC acquired a new stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 52,000 shares of the semiconductor company's stock, valued at approximately $2,116,000.
Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 320 shares during the period. Elequin Capital LP increased its stake in ON Semiconductor by 108.3% during 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 during the 1st quarter worth $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in ON Semiconductor during the 4th quarter worth $43,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in 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 acquiring an additional 518 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.
ON Semiconductor Trading Up 2.7%
Shares of NASDAQ:ON traded up $1.48 during midday trading on Friday, reaching $56.92. The company's stock had a trading volume of 8,072,353 shares, compared to its average volume of 8,120,493. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 4.56 and a beta of 1.43. 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 firm has a 50 day moving average price of $52.38 and a two-hundred day moving average price of $47.80. 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 issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm's revenue was down 22.4% compared to the same quarter last year. As a group, analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. TD Cowen lifted their price target on ON Semiconductor from $38.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald assumed coverage on ON Semiconductor in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price target on the stock. Wells Fargo & Company lifted their price target on ON Semiconductor from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. KGI Securities assumed coverage on ON Semiconductor in a research note on Friday, May 23rd. They issued a "neutral" rating on the stock. Finally, Citigroup lifted their price target on ON Semiconductor from $40.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $58.73.
Get Our Latest Research Report on ON
ON Semiconductor Company 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.
Further Reading
Before you consider ON Semiconductor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ON Semiconductor wasn't on the list.
While ON Semiconductor currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
