George H. Cave Sells 10,000 Shares of ON Semiconductor Corp (NASDAQ:ON) Stock

ON Semiconductor Corp (NASDAQ:ON) EVP George H. Cave sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $21.82, for a total transaction of $218,200.00. Following the sale, the executive vice president now directly owns 268,633 shares of the company’s stock, valued at approximately $5,861,572.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

George H. Cave also recently made the following trade(s):

  • On Tuesday, August 11th, George H. Cave sold 5,000 shares of ON Semiconductor stock. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00.

Shares of NASDAQ:ON traded up $0.03 during trading on Wednesday, reaching $22.05. The stock had a trading volume of 4,733,803 shares, compared to its average volume of 8,676,057. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of -551.36, a P/E/G ratio of 24.13 and a beta of 2.17. ON Semiconductor Corp has a 52 week low of $8.17 and a 52 week high of $25.92. The firm’s fifty day moving average is $21.56 and its 200 day moving average is $17.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.62 and a current ratio of 2.35.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Saturday, August 8th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.10. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. ON Semiconductor had a negative net margin of 0.37% and a positive return on equity of 10.85%. ON Semiconductor’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, research analysts forecast that ON Semiconductor Corp will post 0.68 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ON. Creative Planning boosted its stake in ON Semiconductor by 20.3% during the first quarter. Creative Planning now owns 10,256 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 1,729 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in shares of ON Semiconductor by 2.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 41,766 shares of the semiconductor company’s stock valued at $520,000 after buying an additional 957 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of ON Semiconductor by 28.8% in the first quarter. Rhumbline Advisers now owns 469,555 shares of the semiconductor company’s stock valued at $5,841,000 after buying an additional 105,023 shares in the last quarter. Swiss National Bank lifted its stake in shares of ON Semiconductor by 23.1% in the first quarter. Swiss National Bank now owns 1,594,095 shares of the semiconductor company’s stock valued at $19,831,000 after buying an additional 299,600 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of ON Semiconductor by 10.4% in the first quarter. PNC Financial Services Group Inc. now owns 15,859 shares of the semiconductor company’s stock valued at $198,000 after buying an additional 1,495 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

ON has been the subject of a number of research analyst reports. Rosenblatt Securities upped their price objective on shares of ON Semiconductor from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Needham & Company LLC upped their price objective on shares of ON Semiconductor from $27.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Raymond James upped their price objective on shares of ON Semiconductor from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Citigroup upped their price objective on shares of ON Semiconductor from $19.00 to $25.50 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler upgraded shares of ON Semiconductor from a “neutral” rating to an “overweight” rating and upped their price target for the company from $17.00 to $24.00 in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. ON Semiconductor has an average rating of “Buy” and a consensus target price of $22.55.

About ON Semiconductor

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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