Virginia Retirement Systems ET AL lifted its position in shares of ON Semiconductor Corp (NASDAQ:ON) by 3,994.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 561,000 shares of the semiconductor company’s stock after purchasing an additional 547,300 shares during the period. Virginia Retirement Systems ET AL owned 0.13% of ON Semiconductor worth $10,339,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can bought a new position in ON Semiconductor during the 2nd quarter worth $216,682,000. Nan Shan Life Insurance Co. Ltd. bought a new position in ON Semiconductor during the 2nd quarter worth $84,493,000. BRILLIANCE ASSET MANAGEMENT Ltd bought a new position in ON Semiconductor during the 2nd quarter worth $79,320,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in ON Semiconductor during the 2nd quarter worth $32,421,000. Finally, Robecosam AG increased its stake in ON Semiconductor by 29.5% during the 2nd quarter. Robecosam AG now owns 3,557,000 shares of the semiconductor company’s stock worth $79,250,000 after acquiring an additional 810,500 shares during the period. Institutional investors own 90.36% of the company’s stock.
In other news, EVP William Hall sold 25,000 shares of ON Semiconductor stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $19.56, for a total value of $489,000.00. Following the completion of the transaction, the executive vice president now directly owns 415,797 shares of the company’s stock, valued at approximately $8,132,989.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas sold 9,100 shares of ON Semiconductor stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $18.16, for a total value of $165,256.00. Following the completion of the transaction, the director now directly owns 57,104 shares of the company’s stock, valued at $1,037,008.64. The disclosure for this sale can be found here. Insiders have sold a total of 39,494 shares of company stock worth $768,883 over the last ninety days. Company insiders own 1.60% of the company’s stock.
ON Semiconductor (NASDAQ:ON) last announced its earnings results on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.51 billion. ON Semiconductor had a return on equity of 25.97% and a net margin of 17.24%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, analysts forecast that ON Semiconductor Corp will post 1.9 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on ON shares. ValuEngine downgraded ON Semiconductor from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. BidaskClub raised ON Semiconductor from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Raymond James downgraded ON Semiconductor from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Tuesday, September 25th. Morgan Stanley reduced their target price on ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday, October 30th. Finally, Zacks Investment Research downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. ON Semiconductor presently has a consensus rating of “Hold” and an average target price of $24.57.
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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