Sequoia Financial Advisors LLC Sells 1,653 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Sequoia Financial Advisors LLC lowered its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 20.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,318 shares of the semiconductor company’s stock after selling 1,653 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ON Semiconductor were worth $257,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Truvestments Capital LLC lifted its holdings in shares of ON Semiconductor by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after buying an additional 207 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of ON Semiconductor by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after buying an additional 235 shares during the last quarter. Huntington National Bank raised its stake in shares of ON Semiconductor by 8.9% in the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 271 shares in the last quarter. Elequin Capital LP raised its stake in shares of ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of ON Semiconductor by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company’s stock valued at $1,674,000 after purchasing an additional 312 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

ON Semiconductor Price Performance

Shares of ON stock opened at $56.80 on Friday. The stock’s fifty day moving average is $46.83 and its 200-day moving average is $48.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95. The stock has a market capitalization of $23.73 billion, a PE ratio of 39.44, a PEG ratio of 4.61 and a beta of 1.43. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $80.08.

ON Semiconductor (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities research analysts expect that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

ON has been the subject of a number of recent research reports. Citigroup cut their target price on ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. UBS Group cut their target price on ON Semiconductor from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Robert W. Baird cut their target price on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Morgan Stanley initiated coverage on ON Semiconductor in a research note on Monday, May 12th. They issued an “equal weight” rating and a $39.00 target price for the company. Finally, B. Riley restated a “neutral” rating and issued a $56.00 target price (up from $40.00) on shares of ON Semiconductor in a research note on Wednesday, June 18th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.08.

ON Semiconductor 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.