First Mercantile Trust Co. cut its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 30.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,208 shares of the semiconductor company’s stock after selling 6,198 shares during the quarter. First Mercantile Trust Co.’s holdings in ON Semiconductor were worth $261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC acquired a new stake in ON Semiconductor in the second quarter valued at $109,000. Bessemer Group Inc. raised its stake in shares of ON Semiconductor by 2,746.8% during the 3rd quarter. Bessemer Group Inc. now owns 6,206 shares of the semiconductor company’s stock worth $114,000 after buying an additional 5,988 shares during the last quarter. Psagot Investment House Ltd. acquired a new position in shares of ON Semiconductor during the 2nd quarter worth $123,000. Creative Planning acquired a new position in shares of ON Semiconductor during the 3rd quarter worth $207,000. Finally, New Jersey Better Educational Savings Trust acquired a new position in shares of ON Semiconductor during the 2nd quarter worth $222,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on ON shares. Zacks Investment Research downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Morgan Stanley cut ON Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $20.00 to $18.50 in a research report on Thursday, August 9th. Raymond James cut ON Semiconductor from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Tuesday, September 25th. KeyCorp assumed coverage on ON Semiconductor in a research report on Tuesday, September 25th. They set a “sector weight” rating and a $16.00 price objective for the company. Finally, BidaskClub upgraded ON Semiconductor from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. ON Semiconductor has a consensus rating of “Hold” and a consensus price target of $24.29.

In other ON Semiconductor news, Director Paul Anthony Mascarenas sold 9,100 shares of ON Semiconductor stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $18.16, for a total value of $165,256.00. Following the completion of the sale, the director now owns 57,104 shares in the company, valued at approximately $1,037,008.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Hall sold 25,000 shares of ON Semiconductor stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $19.56, for a total value of $489,000.00. Following the completion of the sale, the executive vice president now owns 415,797 shares of the company’s stock, valued at approximately $8,132,989.32. The disclosure for this sale can be found here. Insiders sold a total of 38,280 shares of company stock valued at $742,854 in the last 90 days. 1.60% of the stock is owned by company insiders.

ON Semiconductor stock opened at $18.79 on Monday. The stock has a market cap of $7.91 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.77 and a beta of 2.00. ON Semiconductor Corp has a 52 week low of $14.55 and a 52 week high of $27.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.44.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. ON Semiconductor had a return on equity of 25.97% and a net margin of 17.24%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts forecast that ON Semiconductor Corp will post 1.9 earnings per share for the current year.

ON Semiconductor declared that its board has authorized a stock repurchase plan on Thursday, November 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 20.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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ON Semiconductor Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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