Villere ST Denis J & Co. LLC boosted its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,597,897 shares of the semiconductor company’s stock after purchasing an additional 185,070 shares during the quarter. ON Semiconductor comprises 4.6% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 10th largest holding. Villere ST Denis J & Co. LLC owned 0.88% of ON Semiconductor worth $69,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Flinton Capital Management LLC boosted its holdings in ON Semiconductor by 7.8% in the second quarter. Flinton Capital Management LLC now owns 212,704 shares of the semiconductor company’s stock worth $4,299,000 after acquiring an additional 15,368 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in ON Semiconductor by 11.6% in the second quarter. Daiwa Securities Group Inc. now owns 236,955 shares of the semiconductor company’s stock worth $4,789,000 after acquiring an additional 24,672 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in ON Semiconductor by 185.3% in the second quarter. Point72 Asset Management L.P. now owns 5,706,798 shares of the semiconductor company’s stock worth $115,334,000 after acquiring an additional 3,706,611 shares in the last quarter. Neuburgh Advisers LLC boosted its holdings in ON Semiconductor by 7.8% in the second quarter. Neuburgh Advisers LLC now owns 137,632 shares of the semiconductor company’s stock worth $2,782,000 after acquiring an additional 9,944 shares in the last quarter. Finally, Pitcairn Co. acquired a new stake in ON Semiconductor in the second quarter worth about $438,000. 96.21% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on ON shares. Loop Capital reduced their price objective on ON Semiconductor to $23.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup reduced their price objective on ON Semiconductor from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Benchmark started coverage on ON Semiconductor in a research note on Friday, September 20th. They issued a “buy” rating and a $26.00 price objective for the company. Mizuho restated a “buy” rating and issued a $26.00 price objective on shares of ON Semiconductor in a research note on Monday, August 5th. Finally, Raymond James upgraded ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research report on Monday, August 19th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.41.
Shares of NASDAQ:ON traded down $0.07 during trading on Tuesday, reaching $19.41. The stock had a trading volume of 281,351 shares, compared to its average volume of 4,984,764. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.41 and a current ratio of 2.42. The business has a fifty day moving average price of $18.85 and a 200-day moving average price of $19.74. The stock has a market cap of $8.00 billion, a PE ratio of 9.89, a PEG ratio of 1.83 and a beta of 2.18. ON Semiconductor Corp has a 1-year low of $14.55 and a 1-year high of $23.54.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.38 billion. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The business’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Sell-side analysts expect that ON Semiconductor Corp will post 1.55 earnings per share for the current year.
In other ON Semiconductor news, EVP Simon Keeton sold 8,812 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.02, for a total transaction of $176,416.24. Following the transaction, the executive vice president now owns 119,101 shares of the company’s stock, valued at $2,384,402.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bernard Gutmann sold 43,266 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $18.79, for a total value of $812,968.14. Following the transaction, the chief financial officer now directly owns 700,344 shares in the company, valued at approximately $13,159,463.76. The disclosure for this sale can be found here. Insiders sold 93,545 shares of company stock worth $1,901,658 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
ON Semiconductor Profile
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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