Financial Gravity Companies Inc. Invests $56,000 in ON Semiconductor Corp (ON) Stock

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Financial Gravity Companies Inc. bought a new stake in ON Semiconductor Corp (NASDAQ:ON) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,691 shares of the semiconductor company’s stock, valued at approximately $56,000.

A number of other hedge funds also recently made changes to their positions in ON. Huntington National Bank lifted its stake in ON Semiconductor by 69.2% in the fourth quarter. Huntington National Bank now owns 1,926 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 788 shares during the period. M&T Bank Corp lifted its stake in ON Semiconductor by 5.0% in the fourth quarter. M&T Bank Corp now owns 17,833 shares of the semiconductor company’s stock valued at $295,000 after buying an additional 843 shares during the period. ETF Managers Group LLC lifted its stake in ON Semiconductor by 18.8% in the fourth quarter. ETF Managers Group LLC now owns 5,417 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 856 shares during the period. Janney Montgomery Scott LLC lifted its stake in ON Semiconductor by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,532 shares of the semiconductor company’s stock valued at $587,000 after buying an additional 894 shares during the period. Finally, Emerald Advisers LLC lifted its stake in ON Semiconductor by 1.5% in the fourth quarter. Emerald Advisers LLC now owns 98,703 shares of the semiconductor company’s stock valued at $1,630,000 after buying an additional 1,476 shares during the period. Institutional investors and hedge funds own 91.42% of the company’s stock.

Several brokerages have issued reports on ON. Zacks Investment Research raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. BidaskClub raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. ValuEngine raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Robert W. Baird reissued a “buy” rating on shares of ON Semiconductor in a research note on Monday, February 4th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $25.00 target price (down from $31.00) on shares of ON Semiconductor in a research report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.42.

In related news, Director Gilles Delfassy sold 2,000 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $17.10, for a total value of $34,200.00. Following the completion of the sale, the director now directly owns 37,869 shares of the company’s stock, valued at approximately $647,559.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul E. Rolls sold 31,487 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $20.00, for a total value of $629,740.00. The disclosure for this sale can be found here. Insiders have sold 94,470 shares of company stock worth $1,857,057 over the last ninety days. 1.29% of the stock is owned by insiders.

Shares of NASDAQ:ON opened at $22.24 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.82. ON Semiconductor Corp has a twelve month low of $14.55 and a twelve month high of $27.10. The company has a market cap of $9.21 billion, a PE ratio of 11.35, a PEG ratio of 1.06 and a beta of 2.06.

ON Semiconductor announced that its board has approved a share repurchase plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 20.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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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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Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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