State of Alaska Department of Revenue Takes Position in ON Semiconductor Corp (NASDAQ:ON)

State of Alaska Department of Revenue acquired a new stake in ON Semiconductor Corp (NASDAQ:ONGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 151,875 shares of the semiconductor company’s stock, valued at approximately $7,640,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of ON Semiconductor in the 4th quarter worth about $373,702,000. Mackenzie Financial Corp boosted its stake in ON Semiconductor by 231.5% in the 4th quarter. Mackenzie Financial Corp now owns 5,139,465 shares of the semiconductor company’s stock worth $349,072,000 after purchasing an additional 3,588,933 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in ON Semiconductor by 18.0% in the 4th quarter. Allianz Asset Management GmbH now owns 14,591,648 shares of the semiconductor company’s stock worth $991,036,000 after purchasing an additional 2,226,677 shares in the last quarter. Pendal Group Ltd boosted its stake in ON Semiconductor by 3,085.9% in the 1st quarter. Pendal Group Ltd now owns 1,808,674 shares of the semiconductor company’s stock worth $113,241,000 after purchasing an additional 1,751,903 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in ON Semiconductor by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock worth $2,608,483,000 after purchasing an additional 1,494,114 shares in the last quarter. Institutional investors own 99.25% of the company’s stock.

ON Semiconductor Stock Performance

Shares of ON Semiconductor stock opened at $70.16 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $30.40 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.52 and a beta of 1.80. The firm’s 50 day moving average is $66.12 and its two-hundred day moving average is $59.74. ON Semiconductor Corp has a 52 week low of $41.88 and a 52 week high of $76.78.

ON Semiconductor (NASDAQ:ONGet Rating) last issued its earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Research analysts forecast that ON Semiconductor Corp will post 5.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ON shares. The Goldman Sachs Group upped their price target on shares of ON Semiconductor from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of ON Semiconductor from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Needham & Company LLC increased their price objective on shares of ON Semiconductor from $60.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 2nd. StockNews.com downgraded shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Finally, Jefferies Financial Group increased their price objective on shares of ON Semiconductor from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ON Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $73.30.

Insider Activity

In other news, EVP Simon Keeton sold 2,813 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $70.00, for a total value of $196,910.00. Following the sale, the executive vice president now directly owns 167,341 shares in the company, valued at $11,713,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Simon Keeton sold 2,813 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $70.00, for a total transaction of $196,910.00. Following the sale, the executive vice president now owns 167,341 shares in the company, valued at $11,713,870. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the sale, the chief executive officer now owns 261,162 shares in the company, valued at approximately $14,669,469.54. The disclosure for this sale can be found here. Insiders have sold 27,363 shares of company stock worth $1,661,560 over the last ninety days. 0.40% of the stock is currently owned by insiders.

ON Semiconductor Profile

(Get Rating)

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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Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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