Korea Investment CORP cut its holdings in ON Semiconductor Corp (NASDAQ:ON) by 10.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 252,179 shares of the semiconductor company’s stock after selling 28,800 shares during the period. Korea Investment CORP’s holdings in ON Semiconductor were worth $4,163,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of ON. Vanguard Group Inc. increased its stake in shares of ON Semiconductor by 1.0% during the third quarter. Vanguard Group Inc. now owns 43,093,027 shares of the semiconductor company’s stock worth $794,204,000 after acquiring an additional 411,056 shares during the period. Vanguard Group Inc increased its stake in shares of ON Semiconductor by 1.0% during the third quarter. Vanguard Group Inc now owns 43,093,027 shares of the semiconductor company’s stock worth $794,204,000 after acquiring an additional 411,056 shares during the period. CFO4Life Group LLC increased its stake in shares of ON Semiconductor by 8.6% during the fourth quarter. CFO4Life Group LLC now owns 29,183 shares of the semiconductor company’s stock worth $482,000 after acquiring an additional 2,316 shares during the period. Caption Management LLC acquired a new position in shares of ON Semiconductor during the fourth quarter worth about $1,320,000. Finally, Royal London Asset Management Ltd. increased its stake in shares of ON Semiconductor by 145.1% during the third quarter. Royal London Asset Management Ltd. now owns 166,165 shares of the semiconductor company’s stock worth $3,063,000 after acquiring an additional 98,371 shares during the period. Institutional investors own 91.81% of the company’s stock.
In other ON Semiconductor news, Director Emmanuel T. Hernandez sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $22.00, for a total value of $220,000.00. Following the sale, the director now owns 149,655 shares of the company’s stock, valued at $3,292,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emmanuel T. Hernandez sold 30,000 shares of the company’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $20.01, for a total transaction of $600,300.00. Following the completion of the sale, the director now directly owns 159,655 shares in the company, valued at approximately $3,194,696.55. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $1,266,000 in the last ninety days. Insiders own 1.29% of the company’s stock.
A number of analysts recently commented on ON shares. BidaskClub raised shares of ON Semiconductor from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Robert W. Baird reissued a “hold” rating and set a $25.00 price objective on shares of ON Semiconductor in a report on Monday. Cowen started coverage on shares of ON Semiconductor in a report on Friday, February 22nd. They set an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $27.00 price objective on shares of ON Semiconductor in a report on Monday. Finally, B. Riley reissued a “buy” rating and set a $30.00 price objective (up previously from $27.00) on shares of ON Semiconductor in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. ON Semiconductor currently has an average rating of “Hold” and an average price target of $24.73.
ON stock opened at $22.06 on Friday. The stock has a market cap of $9.21 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.72 and a beta of 2.05. ON Semiconductor Corp has a 52 week low of $14.55 and a 52 week high of $26.79. The company has a current ratio of 2.16, a quick ratio of 1.32 and a debt-to-equity ratio of 0.82.
ON Semiconductor announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 20.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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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