Income Research & Management bought a new stake in shares of ON Semiconductor Corp (NASDAQ:ON) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 814,000 shares of the semiconductor company’s stock, valued at approximately $1,039,000. ON Semiconductor makes up about 0.3% of Income Research & Management’s holdings, making the stock its 23rd biggest holding. Income Research & Management owned about 0.19% of ON Semiconductor at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $101,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $174,000. BB&T Securities LLC purchased a new position in shares of ON Semiconductor during the third quarter worth about $187,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of ON Semiconductor during the third quarter worth about $200,000. Finally, American International Group Inc. purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $206,000. 97.13% of the stock is owned by institutional investors and hedge funds.
In other ON Semiconductor news, VP Paul E. Rolls sold 16,899 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $21.03, for a total value of $355,385.97. Following the completion of the transaction, the vice president now owns 305,807 shares in the company, valued at $6,431,121.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP George H. Cave sold 14,000 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $24.27, for a total value of $339,780.00. Following the completion of the transaction, the executive vice president now owns 278,649 shares of the company’s stock, valued at approximately $6,762,811.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,195 shares of company stock valued at $2,675,075. 1.40% of the stock is owned by corporate insiders.
Several analysts have issued reports on ON shares. BidaskClub raised ON Semiconductor from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Vetr raised ON Semiconductor from a “hold” rating to a “buy” rating and set a $26.75 target price for the company in a research note on Monday, January 22nd. Zacks Investment Research raised ON Semiconductor from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, March 6th. ValuEngine raised ON Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Mizuho upped their target price on ON Semiconductor from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.09.
Shares of ON Semiconductor Corp (NASDAQ ON) traded down $0.28 during trading on Wednesday, hitting $25.74. The company had a trading volume of 5,860,000 shares, compared to its average volume of 8,170,000. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.31 and a current ratio of 2.08. The company has a market capitalization of $10,950.00, a P/E ratio of 30.64, a PEG ratio of 1.26 and a beta of 2.03. ON Semiconductor Corp has a one year low of $13.65 and a one year high of $27.10.
ON Semiconductor (NASDAQ:ON) last announced its earnings results on Friday, February 2nd. The semiconductor company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.35 billion. ON Semiconductor had a return on equity of 12.86% and a net margin of 5.89%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. equities analysts predict that ON Semiconductor Corp will post 1.73 EPS for the current year.
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About ON Semiconductor
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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