ON Semiconductor (ON) Shares Gap Down Following Insider Selling

Shares of ON Semiconductor Corp (NASDAQ:ON) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $24.46, but opened at $23.52. ON Semiconductor shares last traded at $22.96, with a volume of 7156148 shares traded.

Specifically, EVP George H. Cave sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $22.84, for a total transaction of $342,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emmanuel T. Hernandez sold 10,000 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $22.05, for a total value of $220,500.00. Following the sale, the director now owns 139,655 shares in the company, valued at approximately $3,079,392.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,069 shares of company stock worth $1,084,910. 1.40% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on the company. ValuEngine upgraded ON Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. BidaskClub upgraded ON Semiconductor from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Mizuho increased their price target on ON Semiconductor from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Longbow Research lowered ON Semiconductor from a “buy” rating to a “neutral” rating in a report on Wednesday, April 17th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $25.00 price target on shares of ON Semiconductor in a report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $25.11.

The firm has a market capitalization of $9.33 billion, a PE ratio of 11.71, a P/E/G ratio of 1.83 and a beta of 2.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.31 and a quick ratio of 1.32.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Saturday, April 27th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. ON Semiconductor had a return on equity of 26.54% and a net margin of 10.22%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts expect that ON Semiconductor Corp will post 1.8 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Huntington National Bank lifted its holdings in shares of ON Semiconductor by 69.2% in the fourth quarter. Huntington National Bank now owns 1,926 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 788 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of ON Semiconductor in the fourth quarter valued at approximately $34,000. Enlightenment Research LLC bought a new position in shares of ON Semiconductor in the fourth quarter valued at approximately $36,000. Private Capital Group LLC lifted its holdings in shares of ON Semiconductor by 116.8% in the first quarter. Private Capital Group LLC now owns 2,096 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 1,129 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of ON Semiconductor by 135.8% in the first quarter. Quadrant Capital Group LLC now owns 2,747 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 1,582 shares in the last quarter. Institutional investors own 95.12% of the company’s stock.

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ON Semiconductor Company Profile (NASDAQ:ON)

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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