Dynamic Technology Lab Private Ltd Invests $406,000 in ON Semiconductor Corp. (ON)
Dynamic Technology Lab Private Ltd acquired a new position in shares of ON Semiconductor Corp. (NASDAQ:ON) during the second quarter, Holdings Channel reports. The firm acquired 45,994 shares of the company’s stock, valued at approximately $406,000.
Several other hedge funds also recently added to or reduced their stakes in ON. Norges Bank acquired a new stake in ON Semiconductor Corp. during the fourth quarter valued at approximately $39,331,000. Jericho Capital Asset Management L.P. acquired a new stake in ON Semiconductor Corp. during the first quarter valued at approximately $20,484,000. Prudential Financial Inc. boosted its stake in ON Semiconductor Corp. by 1,713.4% in the first quarter. Prudential Financial Inc. now owns 1,426,694 shares of the company’s stock valued at $13,682,000 after buying an additional 1,348,020 shares in the last quarter. Vanguard Group Inc. boosted its stake in ON Semiconductor Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 31,106,680 shares of the company’s stock valued at $274,361,000 after buying an additional 931,075 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in ON Semiconductor Corp. by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,588,086 shares of the company’s stock valued at $58,103,000 after buying an additional 725,875 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.
ON Semiconductor Corp. (NASDAQ:ON) opened at 12.04 on Friday. ON Semiconductor Corp. has a 12-month low of $6.97 and a 12-month high of $12.22. The company has a market capitalization of $5.00 billion, a PE ratio of 30.87 and a beta of 1.64. The stock’s 50 day moving average price is $10.67 and its 200 day moving average price is $9.76.
ON Semiconductor Corp. (NASDAQ:ON) last released its quarterly earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. ON Semiconductor Corp. had a net margin of 4.70% and a return on equity of 20.14%. The business had revenue of $877.80 million for the quarter, compared to analyst estimates of $854.55 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts anticipate that ON Semiconductor Corp. will post $0.86 EPS for the current fiscal year.
A number of research analysts have recently weighed in on ON shares. Stifel Nicolaus reissued a “buy” rating and issued a $11.00 target price on shares of ON Semiconductor Corp. in a research report on Tuesday, May 31st. Stephens began coverage on ON Semiconductor Corp. in a research report on Thursday, June 2nd. They issued an “equal weight” rating and a $11.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $13.00 price target (up from $12.00) on shares of ON Semiconductor Corp. in a research report on Friday, June 3rd. Pacific Crest upgraded ON Semiconductor Corp. from a “sector weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Monday, June 13th. Finally, Mizuho reiterated a “buy” rating and issued a $16.00 price target on shares of ON Semiconductor Corp. in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the company. ON Semiconductor Corp. presently has a consensus rating of “Buy” and a consensus target price of $13.61.
In other news, VP Paul E. Rolls sold 15,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $11.25, for a total value of $168,750.00. Following the completion of the sale, the vice president now owns 277,202 shares of the company’s stock, valued at approximately $3,118,522.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.
ON Semiconductor Corp. Company Profile
ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.
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