AXS Investments LLC Invests $1.31 Million in ON Semiconductor Corporation (NASDAQ:ON)

AXS Investments LLC purchased a new stake in shares of ON Semiconductor Corporation (NASDAQ:ON) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 13,828 shares of the semiconductor company’s stock, valued at approximately $1,308,000.

A number of other institutional investors have also added to or reduced their stakes in ON. FinTrust Capital Advisors LLC bought a new position in ON Semiconductor during the 4th quarter worth $25,000. Newbridge Financial Services Group Inc. lifted its stake in shares of ON Semiconductor by 175.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 275 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 175 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in ON Semiconductor by 95.5% in the second quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 170 shares during the last quarter. Ancora Advisors LLC acquired a new stake in ON Semiconductor during the 1st quarter valued at approximately $33,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in ON Semiconductor by 47.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 604 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 193 shares during the last quarter. 96.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $99.18, for a total value of $277,208.10. Following the completion of the sale, the chief accounting officer now owns 32,050 shares in the company, valued at approximately $3,178,719. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ON. Summit Insights cut ON Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Truist Financial decreased their price target on shares of ON Semiconductor from $122.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Needham & Company LLC cut their price objective on shares of ON Semiconductor from $120.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Citigroup boosted their target price on ON Semiconductor from $118.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, Craig Hallum cut ON Semiconductor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $132.00 to $78.00 in a research note on Monday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

ON Semiconductor Stock Performance

Shares of NASDAQ:ON traded up $0.57 during midday trading on Friday, reaching $70.03. 4,047,333 shares of the company traded hands, compared to its average volume of 11,066,799. ON Semiconductor Corporation has a 12 month low of $59.61 and a 12 month high of $111.35. The firm’s fifty day moving average price is $83.84 and its two-hundred day moving average price is $89.47. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $30.16 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.36 and a beta of 1.84.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 30th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.34 by $0.05. ON Semiconductor had a net margin of 26.69% and a return on equity of 33.78%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the firm earned $1.45 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that ON Semiconductor Corporation will post 5.13 earnings per share for the current year.

ON Semiconductor Company 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.