Flinton Capital Management LLC cut its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 388,042 shares of the semiconductor company’s stock after selling 43,860 shares during the period. Flinton Capital Management LLC owned about 0.09% of ON Semiconductor worth $8,628,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in shares of ON Semiconductor in the second quarter valued at about $216,682,000. LSV Asset Management lifted its position in shares of ON Semiconductor by 1.3% in the second quarter. LSV Asset Management now owns 8,193,533 shares of the semiconductor company’s stock valued at $182,183,000 after acquiring an additional 108,305 shares in the last quarter. Blue Harbour Group L.P. lifted its position in shares of ON Semiconductor by 114.4% in the first quarter. Blue Harbour Group L.P. now owns 5,508,908 shares of the semiconductor company’s stock valued at $134,748,000 after acquiring an additional 2,938,900 shares in the last quarter. TCW Group Inc. lifted its position in shares of ON Semiconductor by 2.9% in the second quarter. TCW Group Inc. now owns 5,109,154 shares of the semiconductor company’s stock valued at $113,602,000 after acquiring an additional 142,020 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of ON Semiconductor by 0.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,914,735 shares of the semiconductor company’s stock valued at $109,279,000 after acquiring an additional 24,040 shares in the last quarter. Institutional investors own 92.28% of the company’s stock.
NASDAQ:ON opened at $20.49 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $9.10 billion, a P/E ratio of 14.03, a PEG ratio of 0.88 and a beta of 1.97. ON Semiconductor Corp has a 12 month low of $16.28 and a 12 month high of $27.10.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. ON Semiconductor had a return on equity of 24.14% and a net margin of 16.66%. The company 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.
In other ON Semiconductor news, EVP Vince Craig Hopkin sold 3,172 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $21.66, for a total transaction of $68,705.52. Following the sale, the executive vice president now directly owns 84,114 shares of the company’s stock, valued at $1,821,909.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $21.44, for a total value of $26,028.16. Following the sale, the insider now directly owns 18,357 shares in the company, valued at $393,574.08. The disclosure for this sale can be found here. Insiders have sold 4,394 shares of company stock worth $94,907 over the last three months. 1.29% of the stock is currently owned by insiders.
Several equities analysts have recently commented on ON shares. Craig Hallum boosted their price objective on ON Semiconductor from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, June 5th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of ON Semiconductor in a research report on Monday, July 30th. Morgan Stanley downgraded ON Semiconductor from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $20.00 to $18.50 in a research report on Thursday, August 9th. Zacks Investment Research upgraded ON Semiconductor from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Monday, July 2nd. Finally, ValuEngine downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.74.
ON Semiconductor Company 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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