Wealthfront Advisers LLC Has $591,000 Position in ON Semiconductor Corporation (NASDAQ:ON)

Wealthfront Advisers LLC decreased its stake in ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 60.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,519 shares of the semiconductor company's stock after selling 22,509 shares during the quarter. Wealthfront Advisers LLC's holdings in ON Semiconductor were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC boosted its position in ON Semiconductor by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 320 shares during the period. Elequin Capital LP raised its stake in shares of 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 purchasing an additional 274 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of ON Semiconductor during the 1st quarter worth about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of ON Semiconductor during the 4th quarter worth about $43,000. Finally, MassMutual Private Wealth & Trust FSB raised 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 in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

ON Semiconductor Trading Down 6.5%

NASDAQ ON traded down $3.87 on Thursday, reaching $55.74. The company had a trading volume of 6,978,957 shares, compared to its average volume of 9,879,515. The stock's 50 day moving average is $51.92 and its 200-day moving average is $47.90. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 5.15 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 Corporation has a 52 week low of $31.04 and a 52 week high of $80.08.

ON Semiconductor (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. ON Semiconductor's revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Equities analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ON shares. UBS Group reaffirmed a "neutral" rating and set a $55.00 price target (up from $45.00) on shares of ON Semiconductor in a research note on Monday, July 7th. Benchmark reduced their target price on ON Semiconductor from $60.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company reiterated an "overweight" rating and set a $65.00 price target (up previously from $60.00) on shares of ON Semiconductor in a report on Wednesday, July 16th. Needham & Company LLC lowered their price target on ON Semiconductor from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased 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. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $58.73.

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.