ON Semiconductor Corporation $ON Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of ON Semiconductor Corporation (NASDAQ:ON) by 244.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 103,262 shares of the semiconductor company’s stock after acquiring an additional 73,270 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in ON Semiconductor were worth $5,092,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of ON Semiconductor by 0.5% in the second quarter. Vanguard Group Inc. now owns 51,367,704 shares of the semiconductor company’s stock worth $2,692,181,000 after purchasing an additional 243,238 shares during the last quarter. Ameriprise Financial Inc. raised its position in ON Semiconductor by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company’s stock worth $639,716,000 after buying an additional 877,533 shares during the last quarter. Geode Capital Management LLC lifted its stake in ON Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,296,301 shares of the semiconductor company’s stock valued at $590,383,000 after acquiring an additional 77,795 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of ON Semiconductor by 0.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,889,080 shares of the semiconductor company’s stock valued at $284,737,000 after acquiring an additional 53,748 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of ON Semiconductor by 55.0% in the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock worth $305,943,000 after acquiring an additional 2,072,125 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

ON Semiconductor Stock Performance

Shares of ON stock opened at $72.21 on Friday. The company has a current ratio of 4.52, a quick ratio of 3.54 and a debt-to-equity ratio of 0.39. ON Semiconductor Corporation has a 12-month low of $31.04 and a 12-month high of $73.63. The business’s 50 day moving average is $59.65 and its two-hundred day moving average is $53.38. The company has a market capitalization of $28.45 billion, a P/E ratio of 212.39, a P/E/G ratio of 0.77 and a beta of 1.56.

ON Semiconductor (NASDAQ:ON) last announced its earnings results on Monday, February 9th. The semiconductor company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. ON Semiconductor had a return on equity of 12.22% and a net margin of 2.02%.The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company posted $0.95 EPS. The business’s quarterly revenue was down 11.2% on a year-over-year basis. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. Analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

ON Semiconductor declared that its board has authorized a stock repurchase plan on Tuesday, November 18th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 32.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Trending Headlines about ON Semiconductor

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: Q4 results beat EPS expectations, management highlighted record free cash flow and the board authorized an incremental $6.0B repurchase program — a structural support for the share price and a likely driver of momentum buying. Onsemi Is Near a Breakout—And Free Cash Flow Could Fuel It
• Positive Sentiment: Several analysts raised targets or issued supportive notes after the quarter (JPMorgan, Truist, Rosenblatt among others), which can attract institutional buying and underpin upside. JPMorgan Increases ON Semiconductor Price Target to $70
• Neutral Sentiment: Barclays initiated coverage with an Equal‑weight rating — increases coverage/liquidity but is not a directional endorsement. Barclays initiates ON Semiconductor coverage
• Neutral Sentiment: Analyst views are mixed overall (some raises, some trims) — that produces two‑way flows and makes the stock sensitive to near‑term execution updates. Seeking Alpha: ON Semiconductor – Reiterate Buy Upon Correction
• Negative Sentiment: Insider selling by senior executives this week — CEO Hassane El‑Khoury and CFO Trent Thad sold sizable blocks (20k and 60k shares respectively). Large insider disposals can weigh on sentiment and prompt short‑term selling. ON Semiconductor CEO Hassane El‑Khoury Sells 20,000 Shares
• Negative Sentiment: Top‑line remains pressured: revenue declined year‑over‑year and management flagged execution/market risks — investors will be watching whether revenue recovery accelerates to justify the current premium valuation. Q4 2025 earnings call transcript

Analyst Ratings Changes

A number of research firms recently issued reports on ON. Citigroup boosted their target price on shares of ON Semiconductor from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday. Rosenblatt Securities boosted their price objective on ON Semiconductor from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. UBS Group reaffirmed a “neutral” rating on shares of ON Semiconductor in a report on Monday, February 2nd. JPMorgan Chase & Co. boosted their price target on ON Semiconductor from $56.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Finally, Piper Sandler upped their price objective on ON Semiconductor from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.19.

Insiders Place Their Bets

In other ON Semiconductor news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $73.02, for a total transaction of $1,460,400.00. Following the transaction, the chief executive officer directly owned 1,015,610 shares of the company’s stock, valued at $74,159,842.20. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Trent Thad sold 60,000 shares of ON Semiconductor stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $71.22, for a total transaction of $4,273,200.00. Following the completion of the sale, the chief financial officer owned 339,460 shares in the company, valued at approximately $24,176,341.20. This trade represents a 15.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,000 shares of company stock valued at $6,834,600 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

About ON Semiconductor

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.