ON Semiconductor Corporation (NASDAQ:ON) CEO Hassane El-Khoury Sells 15,000 Shares

Key Points

• ON Semiconductor CEO Hassane El-Khoury sold 15,000 shares at an average price of $51.22, totaling approximately $768,300, which reflects a 1.51% decrease in his ownership.
• The company's stock was trading at $51.09, down $0.53 during mid-day trading, with a market capitalization of $20.89 billion and a 12-month price range between $31.04 and $78.61.
• ON Semiconductor reported $0.53 earnings per share (EPS) for the last quarter, missing the consensus estimate by $0.01, while revenue of $1.47 billion was down 15.4% year-over-year.

ON Semiconductor Corporation (NASDAQ:ON - Get Free Report) CEO Hassane El-Khoury sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total value of $768,300.00. Following the transaction, the chief executive officer owned 977,814 shares in the company, valued at approximately $50,083,633.08. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

ON Semiconductor Price Performance

ON stock traded down $0.53 during mid-day trading on Friday, hitting $51.09. 7,572,204 shares of the stock were exchanged, compared to its average volume of 10,078,000. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37. The business has a fifty day moving average price of $54.55 and a 200 day moving average price of $47.46. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $78.61. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 47.75, a PEG ratio of 2.58 and a beta of 1.45.

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

Wall Street Analyst Weigh In

A number of research firms have commented on ON. Morgan Stanley initiated coverage on ON Semiconductor in a research note on Monday, May 12th. They set an "equal weight" rating and a $39.00 price objective on the stock. KeyCorp lifted their price target on ON Semiconductor from $50.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group initiated coverage on ON Semiconductor in a research note on Thursday, July 10th. They issued a "neutral" rating and a $60.00 price target on the stock. Piper Sandler reiterated an "overweight" rating on shares of ON Semiconductor in a research note on Monday, August 4th. Finally, Cantor Fitzgerald began 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. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $56.84.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ON. Golden State Wealth Management LLC grew its stake in shares of ON Semiconductor by 83.3% in the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after buying an additional 320 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of ON Semiconductor by 4.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company's stock worth $408,000 after buying an additional 463 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of ON Semiconductor in the 1st quarter worth approximately $222,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of ON Semiconductor by 15.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company's stock worth $1,070,000 after buying an additional 2,209 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of ON Semiconductor by 57.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company's stock worth $264,000 after buying an additional 2,353 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

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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