First Hawaiian Bank Sells 9,564 Shares of ON Semiconductor Corporation (NASDAQ:ON)

First Hawaiian Bank reduced its stake in ON Semiconductor Corporation (NASDAQ:ON) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,691 shares of the semiconductor company’s stock after selling 9,564 shares during the period. First Hawaiian Bank’s holdings in ON Semiconductor were worth $2,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC bought a new position in shares of ON Semiconductor in the 4th quarter worth $373,000. Ontario Teachers Pension Plan Board acquired a new stake in ON Semiconductor during the 4th quarter worth $331,000. American International Group Inc. raised its stake in ON Semiconductor by 8.1% during the 4th quarter. American International Group Inc. now owns 132,885 shares of the semiconductor company’s stock worth $8,288,000 after buying an additional 9,919 shares during the period. State of Alaska Department of Revenue raised its stake in ON Semiconductor by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 158,942 shares of the semiconductor company’s stock worth $13,083,000 after buying an additional 1,265 shares during the period. Finally, Bank of Hawaii acquired a new stake in ON Semiconductor during the 1st quarter worth $389,000. 96.36% of the stock is currently owned by institutional investors.

Insider Activity at ON Semiconductor

In related news, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the chief executive officer now owns 531,388 shares of the company’s stock, valued at $55,795,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Simon Keeton sold 11,310 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $95.00, for a total value of $1,074,450.00. Following the completion of the sale, the executive vice president now directly owns 196,034 shares of the company’s stock, valued at approximately $18,623,230. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $105.00, for a total value of $2,100,000.00. Following the completion of the sale, the chief executive officer now directly owns 531,388 shares of the company’s stock, valued at $55,795,740. The disclosure for this sale can be found here. Insiders sold 59,378 shares of company stock worth $6,030,709 over the last three months. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on ON Semiconductor from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Truist Financial lifted their price target on ON Semiconductor from $93.00 to $122.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Morgan Stanley raised their price objective on ON Semiconductor from $89.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Stifel Nicolaus raised their price objective on ON Semiconductor from $98.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, August 1st. Finally, KeyCorp raised their price objective on ON Semiconductor from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.31.

ON Semiconductor Stock Down 0.4 %

Shares of ON opened at $96.47 on Friday. ON Semiconductor Corporation has a 52 week low of $54.93 and a 52 week high of $111.35. The stock has a market capitalization of $41.66 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.48 and a beta of 1.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 2.39. The stock has a fifty day moving average of $98.27 and a 200-day moving average of $87.86.

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

ON Semiconductor Profile

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.