Hanseatic Management Services Inc. Boosts Holdings in ON Semiconductor Corporation (ON)
Hanseatic Management Services Inc. raised its position in shares of ON Semiconductor Corporation (NASDAQ:ON) by 52.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,293 shares of the semiconductor company’s stock after acquiring an additional 32,309 shares during the period. Hanseatic Management Services Inc.’s holdings in ON Semiconductor Corporation were worth $1,324,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Segantii Capital Management Ltd acquired a new position in shares of ON Semiconductor Corporation during the first quarter worth about $101,000. Israel Discount Bank of New York acquired a new position in shares of ON Semiconductor Corporation during the first quarter worth about $102,000. Oppenheimer Asset Management Inc. acquired a new position in shares of ON Semiconductor Corporation during the first quarter worth about $110,000. Tower Research Capital LLC TRC lifted its stake in shares of ON Semiconductor Corporation by 2,234.7% during the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 9,609 shares in the last quarter. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of ON Semiconductor Corporation during the second quarter worth about $157,000. 98.07% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP George H. Cave sold 3,057 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $17.50, for a total value of $53,497.50. Following the completion of the sale, the executive vice president now owns 327,439 shares in the company, valued at $5,730,182.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daryl Ostrander sold 2,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $16.78, for a total transaction of $33,560.00. Following the completion of the sale, the director now owns 65,458 shares of the company’s stock, valued at approximately $1,098,385.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,548 shares of company stock valued at $450,275. 1.60% of the stock is owned by corporate insiders.
Shares of ON Semiconductor Corporation (NASDAQ:ON) traded up 1.44% during mid-day trading on Friday, reaching $17.64. The company had a trading volume of 3,937,791 shares. The company has a market capitalization of $7.44 billion, a PE ratio of 25.98 and a beta of 1.98. ON Semiconductor Corporation has a 52-week low of $10.74 and a 52-week high of $17.73. The company’s 50-day moving average price is $16.37 and its 200-day moving average price is $15.37.
A number of research analysts have commented on ON shares. B. Riley restated a “buy” rating and set a $18.00 price objective on shares of ON Semiconductor Corporation in a research note on Monday, June 12th. Raymond James Financial, Inc. started coverage on ON Semiconductor Corporation in a research note on Friday, June 16th. They set an “outperform” rating and a $19.00 price objective on the stock. BidaskClub cut ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Zacks Investment Research cut ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Needham & Company LLC upgraded ON Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $17.91.
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About ON Semiconductor Corporation
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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