Atwood & Palmer Inc. cut its stake in ON Semiconductor Corp (NASDAQ:ON) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,172,705 shares of the semiconductor company’s stock after selling 58,732 shares during the period. ON Semiconductor makes up approximately 3.0% of Atwood & Palmer Inc.’s holdings, making the stock its 8th biggest position. Atwood & Palmer Inc. owned 0.29% of ON Semiconductor worth $22,528,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of ON. Oakworth Capital Inc. acquired a new stake in shares of ON Semiconductor during the 2nd quarter worth about $28,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of ON Semiconductor during the 2nd quarter worth about $71,000. Redhawk Wealth Advisors Inc. acquired a new stake in ON Semiconductor in the 2nd quarter valued at about $77,000. Stephens Inc. AR increased its position in ON Semiconductor by 11.2% in the 2nd quarter. Stephens Inc. AR now owns 4,983 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 503 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in ON Semiconductor by 40.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,375 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 1,835 shares in the last quarter. 96.21% of the stock is owned by hedge funds and other institutional investors.
In other ON Semiconductor news, CFO Bernard Gutmann sold 43,266 shares of ON Semiconductor stock in a transaction on Monday, September 30th. The shares were sold at an average price of $18.79, for a total transaction of $812,968.14. Following the completion of the transaction, the chief financial officer now directly owns 700,344 shares of the company’s stock, valued at $13,159,463.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul E. Rolls sold 11,467 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $22.00, for a total transaction of $252,274.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,545 shares of company stock worth $1,901,658. 1.40% of the stock is owned by corporate insiders.
ON traded up $0.64 during trading on Monday, reaching $19.48. 3,395,580 shares of the stock were exchanged, compared to its average volume of 6,408,887. The stock has a market cap of $7.84 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.86 and a beta of 2.18. ON Semiconductor Corp has a twelve month low of $14.55 and a twelve month high of $23.54. The stock’s 50 day moving average price is $18.78 and its two-hundred day moving average price is $19.77. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.41 and a current ratio of 2.42.
ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. ON Semiconductor had a net margin of 9.49% and a return on equity of 25.36%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. Equities research analysts predict that ON Semiconductor Corp will post 1.55 earnings per share for the current fiscal year.
ON has been the subject of several research reports. BNP Paribas initiated coverage on shares of ON Semiconductor in a research report on Friday, August 30th. They issued an “outperform” rating for the company. Zacks Investment Research lowered shares of ON Semiconductor from a “hold” rating to a “sell” rating and set a $19.00 target price on the stock. in a research note on Wednesday, October 9th. Mizuho reaffirmed a “buy” rating and issued a $26.00 target price on shares of ON Semiconductor in a research note on Monday, August 5th. Raymond James raised shares of ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Monday, August 19th. Finally, B. Riley reaffirmed a “buy” rating on shares of ON Semiconductor in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.41.
About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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