ON Semiconductor Corporation (NASDAQ:ON) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV decreased its stake in ON Semiconductor Corporation (NASDAQ:ON) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,000,002 shares of the semiconductor company’s stock after selling 4,721 shares during the period. ON Semiconductor makes up 0.7% of Nissay Asset Management Corp Japan ADV’s investment portfolio, making the stock its 23rd largest holding. Nissay Asset Management Corp Japan ADV owned 0.23% of ON Semiconductor worth $82,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ON. Ibex Wealth Advisors boosted its position in ON Semiconductor by 3.4% during the first quarter. Ibex Wealth Advisors now owns 50,027 shares of the semiconductor company’s stock worth $4,118,000 after purchasing an additional 1,638 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its position in shares of ON Semiconductor by 23.1% in the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 15,844 shares of the semiconductor company’s stock worth $1,304,000 after buying an additional 2,973 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in ON Semiconductor by 7.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 275,514 shares of the semiconductor company’s stock valued at $22,680,000 after acquiring an additional 18,500 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new position in ON Semiconductor during the 1st quarter valued at about $1,317,000. Finally, DE Burlo Group Inc. acquired a new position in ON Semiconductor during the first quarter worth about $14,233,000. Hedge funds and other institutional investors own 96.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of ON Semiconductor in a research report on Tuesday, August 1st. BMO Capital Markets raised their price target on ON Semiconductor from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. The Goldman Sachs Group increased their price objective on ON Semiconductor from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Piper Sandler boosted their target price on shares of ON Semiconductor from $130.00 to $135.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus raised their price target on shares of ON Semiconductor from $98.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.31.

ON Semiconductor Price Performance

ON Semiconductor stock opened at $97.92 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.39 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $42.29 billion, a P/E ratio of 22.41, a PEG ratio of 2.52 and a beta of 1.78. The firm has a fifty day moving average of $98.10 and a 200-day moving average of $87.39. ON Semiconductor Corporation has a 52-week low of $54.93 and a 52-week high of $111.35.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 31st. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. ON Semiconductor had a return on equity of 36.71% and a net margin of 23.41%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. As a group, analysts predict that ON Semiconductor Corporation will post 5.25 EPS for the current year.

Insider Buying and Selling

In other ON Semiconductor news, Director Christine Y. Yan sold 3,624 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $92.16, for a total value of $333,987.84. Following the completion of the sale, the director now owns 38,532 shares of the company’s stock, valued at $3,551,109.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Paul Anthony Mascarenas sold 1,450 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $88.63, for a total value of $128,513.50. Following the transaction, the director now owns 46,757 shares in the company, valued at $4,144,072.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christine Y. Yan sold 3,624 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $92.16, for a total value of $333,987.84. Following the completion of the transaction, the director now directly owns 38,532 shares in the company, valued at $3,551,109.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,083 shares of company stock valued at $7,810,451. Corporate insiders own 0.40% of the company’s stock.

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.