Dimensional Fund Advisors LP Grows Stake in ON Semiconductor Corporation (NASDAQ:ON)

Dimensional Fund Advisors LP raised its stake in ON Semiconductor Corporation (NASDAQ:ON) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,321,975 shares of the semiconductor company’s stock after purchasing an additional 46,148 shares during the quarter. Dimensional Fund Advisors LP owned about 0.77% of ON Semiconductor worth $314,167,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Baldwin Investment Management LLC boosted its holdings in ON Semiconductor by 2.4% in the second quarter. Baldwin Investment Management LLC now owns 4,300 shares of the semiconductor company’s stock valued at $407,000 after purchasing an additional 100 shares during the last quarter. Integrated Advisors Network LLC boosted its stake in shares of ON Semiconductor by 1.2% during the 2nd quarter. Integrated Advisors Network LLC now owns 9,800 shares of the semiconductor company’s stock valued at $927,000 after buying an additional 115 shares during the last quarter. Ieq Capital LLC grew its position in shares of ON Semiconductor by 0.6% during the second quarter. Ieq Capital LLC now owns 21,913 shares of the semiconductor company’s stock worth $2,073,000 after buying an additional 131 shares in the last quarter. Salem Investment Counselors Inc. grew its position in shares of ON Semiconductor by 26.4% during the second quarter. Salem Investment Counselors Inc. now owns 670 shares of the semiconductor company’s stock worth $63,000 after buying an additional 140 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of ON Semiconductor by 20.1% during the second quarter. Cullen Frost Bankers Inc. now owns 841 shares of the semiconductor company’s stock worth $80,000 after buying an additional 141 shares in the last quarter. 96.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ON shares. Craig Hallum downgraded ON Semiconductor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $132.00 to $78.00 in a report on Monday, October 30th. Susquehanna reduced their target price on ON Semiconductor from $110.00 to $90.00 and set a “positive” rating on the stock in a report on Tuesday, October 31st. Wells Fargo & Company increased their target price on ON Semiconductor from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Rosenblatt Securities dropped their price objective on shares of ON Semiconductor from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 31st. Finally, Roth Mkm initiated coverage on shares of ON Semiconductor in a research note on Tuesday. They set a “buy” rating and a $75.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, ON Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

ON Semiconductor Price Performance

NASDAQ:ON opened at $71.13 on Thursday. The stock has a market cap of $30.64 billion, a P/E ratio of 14.34, a PEG ratio of 3.22 and a beta of 1.84. ON Semiconductor Corporation has a one year low of $59.61 and a one year high of $111.35. The company has a fifty day moving average price of $84.98 and a 200 day moving average price of $89.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.44 and a quick ratio of 1.60.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Monday, October 30th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. ON Semiconductor had a return on equity of 33.78% and a net margin of 26.69%. ON Semiconductor’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 earnings per share. Analysts anticipate that ON Semiconductor Corporation will post 5.13 earnings per share for the current year.

Insider Activity at ON Semiconductor

In related news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of ON Semiconductor stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $99.18, for a total transaction of $277,208.10. Following the completion of the transaction, the chief accounting officer now directly owns 32,050 shares of the company’s stock, valued at approximately $3,178,719. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

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.