ON Semiconductor Corporation (NASDAQ:ON) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 19,260,581 shares, a drop of 6.7% from the July 14th total of 20,646,961 shares. Based on an average daily volume of 4,799,884 shares, the days-to-cover ratio is presently 4.0 days. Approximately 4.6% of the shares of the company are sold short.

Shares of ON Semiconductor Corporation (ON) opened at 15.94 on Friday. ON Semiconductor Corporation has a 1-year low of $10.08 and a 1-year high of $16.93. The firm has a market cap of $6.72 billion, a P/E ratio of 23.48 and a beta of 1.97. The firm’s 50-day moving average is $15.03 and its 200-day moving average is $14.99.

A number of research firms have recently commented on ON. ValuEngine lowered shares of ON Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of ON Semiconductor Corporation in a research report on Wednesday. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price target (up previously from $15.00) on shares of ON Semiconductor Corporation in a research report on Wednesday. Mizuho reissued an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of ON Semiconductor Corporation in a research report on Wednesday. Finally, B. Riley lifted their price target on shares of ON Semiconductor Corporation from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. ON Semiconductor Corporation currently has an average rating of “Buy” and an average target price of $16.97.

In other news, EVP Robert A. Klosterboer sold 10,000 shares of ON Semiconductor Corporation stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $15.40, for a total value of $154,000.00. Following the transaction, the executive vice president now owns 324,320 shares of the company’s stock, valued at $4,994,528. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bernard Raymond Colpitts, Jr. sold 2,490 shares of ON Semiconductor Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $16.31, for a total transaction of $40,611.90. Following the completion of the transaction, the insider now directly owns 24,591 shares in the company, valued at approximately $401,079.21. The disclosure for this sale can be found here. In the last three months, insiders sold 127,180 shares of company stock worth $1,994,652. Insiders own 1.60% of the company’s stock.

A number of large investors have recently modified their holdings of ON. Teacher Retirement System of Texas increased its stake in shares of ON Semiconductor Corporation by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 33,379 shares of the semiconductor company’s stock worth $469,000 after buying an additional 127 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in shares of ON Semiconductor Corporation by 0.3% in the second quarter. Chase Investment Counsel Corp now owns 91,155 shares of the semiconductor company’s stock worth $1,279,000 after buying an additional 254 shares during the period. Amalgamated Bank boosted its stake in shares of ON Semiconductor Corporation by 0.7% in the first quarter. Amalgamated Bank now owns 59,332 shares of the semiconductor company’s stock worth $919,000 after buying an additional 393 shares during the period. ProShare Advisors LLC boosted its stake in shares of ON Semiconductor Corporation by 1.7% in the first quarter. ProShare Advisors LLC now owns 25,741 shares of the semiconductor company’s stock worth $399,000 after buying an additional 440 shares during the period. Finally, Comerica Bank boosted its stake in shares of ON Semiconductor Corporation by 3.6% in the second quarter. Comerica Bank now owns 20,871 shares of the semiconductor company’s stock worth $316,000 after buying an additional 720 shares during the period. Institutional investors and hedge funds own 97.43% of the company’s stock.

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ON Semiconductor Corporation Company Profile

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.

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