Verition Fund Management LLC trimmed its holdings in ON Semiconductor Corp (NASDAQ:ON) by 30.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 60,967 shares of the semiconductor company’s stock after selling 26,348 shares during the quarter. Verition Fund Management LLC’s holdings in ON Semiconductor were worth $1,277,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in ON Semiconductor by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 34,605,410 shares of the semiconductor company’s stock valued at $639,162,000 after buying an additional 1,949,089 shares during the last quarter. Capital International Investors raised its holdings in ON Semiconductor by 1.9% during the 3rd quarter. Capital International Investors now owns 24,062,785 shares of the semiconductor company’s stock valued at $444,440,000 after buying an additional 439,448 shares during the last quarter. LSV Asset Management raised its holdings in ON Semiconductor by 63.1% during the 4th quarter. LSV Asset Management now owns 7,255,728 shares of the semiconductor company’s stock valued at $151,934,000 after buying an additional 2,806,816 shares during the last quarter. Geode Capital Management LLC raised its holdings in ON Semiconductor by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,088,564 shares of the semiconductor company’s stock valued at $85,613,000 after buying an additional 110,427 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in ON Semiconductor by 132.3% during the 4th quarter. Bank of Montreal Can now owns 4,044,634 shares of the semiconductor company’s stock valued at $84,695,000 after buying an additional 2,303,338 shares during the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.
ON has been the subject of a number of recent analyst reports. Mizuho reiterated a “buy” rating and set a $26.00 price target (up from $24.00) on shares of ON Semiconductor in a report on Friday, January 12th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of ON Semiconductor in a research report on Tuesday, December 19th. KeyCorp reissued a “hold” rating on shares of ON Semiconductor in a research report on Monday, December 11th. Zacks Investment Research downgraded shares of ON Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, ValuEngine downgraded shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. ON Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $24.09.
In other news, EVP Robert A. Klosterboer sold 16,249 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $25.88, for a total value of $420,524.12. Following the sale, the executive vice president now directly owns 363,030 shares of the company’s stock, valued at approximately $9,395,216.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Hall sold 22,583 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $23.86, for a total transaction of $538,830.38. The disclosure for this sale can be found here. Insiders sold a total of 137,282 shares of company stock worth $3,247,913 over the last ninety days. Insiders own 1.60% of the company’s stock.
Shares of ON Semiconductor Corp (NASDAQ ON) opened at $25.87 on Friday. The firm has a market cap of $10,959.35, a PE ratio of 13.83, a PEG ratio of 1.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.31. ON Semiconductor Corp has a 1 year low of $13.65 and a 1 year high of $27.10.
ON Semiconductor (NASDAQ:ON) last released its earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. ON Semiconductor had a net margin of 14.63% and a return on equity of 21.88%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. research analysts anticipate that ON Semiconductor Corp will post 1.73 earnings per share for the current fiscal 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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