Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in ON Semiconductor Corp (NASDAQ:ON) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 696,355 shares of the semiconductor company’s stock after acquiring an additional 86,500 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.16% of ON Semiconductor worth $15,483,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of ON. LS Investment Advisors LLC bought a new stake in ON Semiconductor in the 2nd quarter valued at about $109,000. Point72 Asia Hong Kong Ltd boosted its stake in ON Semiconductor by 9,749.0% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,826 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 4,777 shares during the last quarter. Psagot Investment House Ltd. acquired a new position in ON Semiconductor during the 2nd quarter valued at about $123,000. Cerebellum GP LLC acquired a new position in ON Semiconductor during the 2nd quarter valued at about $170,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in ON Semiconductor during the 1st quarter valued at about $204,000. 92.30% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Paul Anthony Mascarenas sold 9,100 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $18.16, for a total value of $165,256.00. Following the transaction, the director now owns 57,104 shares of the company’s stock, valued at $1,037,008.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $21.44, for a total transaction of $26,028.16. Following the completion of the transaction, the insider now owns 18,357 shares of the company’s stock, valued at $393,574.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,494 shares of company stock worth $768,883. Insiders own 1.29% of the company’s stock.
ON has been the subject of a number of analyst reports. BidaskClub downgraded ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Zacks Investment Research upgraded ON Semiconductor from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Monday, July 2nd. ValuEngine downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Nomura assumed coverage on ON Semiconductor in a research note on Wednesday, July 18th. They set a “buy” rating and a $30.00 price target for the company. Finally, Mizuho restated a “buy” rating and issued a $27.00 target price on shares of ON Semiconductor in a research note on Monday, July 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.96.
ON stock traded down $0.33 during midday trading on Friday, reaching $17.54. 7,725,403 shares of the company’s stock traded hands, compared to its average volume of 6,664,268. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 0.91. ON Semiconductor Corp has a 52 week low of $17.23 and a 52 week high of $27.10. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.76 and a beta of 2.01.
ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Equities research analysts anticipate that ON Semiconductor Corp will post 1.84 EPS for the current year.
ON Semiconductor Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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