Envestnet Asset Management Inc. trimmed its position in shares of ON Semiconductor Corp (NASDAQ:ON – Get Rating) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 339,648 shares of the semiconductor company’s stock after selling 24,350 shares during the period. Envestnet Asset Management Inc. owned 0.08% of ON Semiconductor worth $21,265,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shaker Investments LLC OH bought a new stake in shares of ON Semiconductor during the 1st quarter worth about $973,000. Norges Bank bought a new stake in shares of ON Semiconductor during the 4th quarter worth about $373,702,000. CVA Family Office LLC raised its position in shares of ON Semiconductor by 222.2% during the 1st quarter. CVA Family Office LLC now owns 725 shares of the semiconductor company’s stock worth $45,000 after buying an additional 500 shares in the last quarter. Laidlaw Wealth Management LLC bought a new stake in shares of ON Semiconductor during the 4th quarter worth about $206,000. Finally, MML Investors Services LLC raised its position in shares of ON Semiconductor by 92.5% during the 4th quarter. MML Investors Services LLC now owns 25,378 shares of the semiconductor company’s stock worth $1,724,000 after buying an additional 12,198 shares in the last quarter. 92.86% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have commented on ON. Cowen boosted their price target on shares of ON Semiconductor from $65.00 to $81.00 and gave the stock a “maintains” rating in a research report on Tuesday. Citigroup boosted their target price on shares of ON Semiconductor from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Benchmark reiterated a “buy” rating and issued a $72.00 target price on shares of ON Semiconductor in a report on Tuesday, May 3rd. Susquehanna Bancshares boosted their target price on shares of ON Semiconductor from $77.00 to $82.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, Bank of America dropped their target price on shares of ON Semiconductor from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.46.
ON Semiconductor Price Performance
Shares of NASDAQ:ON opened at $65.59 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.60. ON Semiconductor Corp has a 1 year low of $40.85 and a 1 year high of $71.25. The business has a fifty day simple moving average of $56.87 and a 200 day simple moving average of $57.47. The firm has a market cap of $28.50 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 0.71 and a beta of 1.82.
ON Semiconductor (NASDAQ:ON – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. ON Semiconductor had a return on equity of 38.08% and a net margin of 20.13%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the company earned $0.63 earnings per share. ON Semiconductor’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that ON Semiconductor Corp will post 4.9 earnings per share for the current fiscal year.
About ON Semiconductor
onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.
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