Russell Investments Group Ltd. cut its holdings in ON Semiconductor Corp (NASDAQ:ON – Get Rating) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,781 shares of the semiconductor company’s stock after selling 6,969 shares during the period. Russell Investments Group Ltd.’s holdings in ON Semiconductor were worth $10,822,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the business. Shaker Investments LLC OH bought a new stake in ON Semiconductor in the 1st quarter valued at about $973,000. Norges Bank bought a new stake in ON Semiconductor in the 4th quarter valued at about $373,702,000. Ameritas Advisory Services LLC bought a new stake in ON Semiconductor in the 1st quarter valued at about $683,000. CVA Family Office LLC increased its position in ON Semiconductor by 222.2% in the 1st quarter. CVA Family Office LLC now owns 725 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 500 shares in the last quarter. Finally, Laidlaw Wealth Management LLC bought a new stake in ON Semiconductor in the 4th quarter valued at about $206,000. 92.86% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on ON shares. Cowen boosted their target price on ON Semiconductor from $65.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday. Summit Insights downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. StockNews.com downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America cut their price target on ON Semiconductor from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Wells Fargo & Company upgraded ON Semiconductor from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $65.00 in a research note on Wednesday, May 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.23.
ON Semiconductor Trading Down 0.6 %
ON Semiconductor (NASDAQ:ON – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. ON Semiconductor had a return on equity of 41.43% and a net margin of 22.60%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, research analysts forecast that ON Semiconductor Corp will post 5.13 EPS for the current year.
Insider Buying and Selling
In related news, EVP Vince Craig Hopkin sold 6,296 shares of ON Semiconductor stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the sale, the executive vice president now owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ON Semiconductor news, EVP Vince Craig Hopkin sold 6,296 shares of ON Semiconductor stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total transaction of $328,021.60. Following the completion of the transaction, the executive vice president now owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hassane El-Khoury sold 20,000 shares of ON Semiconductor stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $56.17, for a total value of $1,123,400.00. Following the transaction, the chief executive officer now directly owns 261,162 shares of the company’s stock, valued at approximately $14,669,469.54. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
ON Semiconductor Company Profile
onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.
- Get a free copy of the StockNews.com research report on ON Semiconductor (ON)
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