ON Semiconductor Corp (NASDAQ:ON) fell 6.3% during trading on Monday following insider selling activity. The company traded as low as $17.58 and last traded at $17.61. 7,843,949 shares were traded during trading, an increase of 14% from the average session volume of 6,899,365 shares. The stock had previously closed at $18.79.

Specifically, Director Paul Anthony Mascarenas sold 9,100 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $18.16, for a total transaction of $165,256.00. Following the sale, the director now directly owns 57,104 shares of the company’s stock, valued at approximately $1,037,008.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vince Craig Hopkin sold 3,172 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $21.66, for a total transaction of $68,705.52. Following the sale, the executive vice president now directly owns 84,114 shares in the company, valued at $1,821,909.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,343 shares of company stock worth $1,027,651. Company insiders own 1.29% of the company’s stock.

A number of equities research analysts have commented on the stock. BidaskClub downgraded shares of ON Semiconductor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 21st. Craig Hallum restated a “buy” rating and issued a $25.00 target price (down previously from $31.00) on shares of ON Semiconductor in a report on Tuesday, October 30th. Morgan Stanley lowered their target price on shares of ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating for the company in a report on Tuesday, October 30th. ValuEngine upgraded shares of ON Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, BMO Capital Markets started coverage on shares of ON Semiconductor in a report on Monday, November 12th. They issued a “market perform” rating and a $20.00 target price for the company. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.29.

The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.77 and a beta of 2.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.44 and a current ratio of 2.36.

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

ON Semiconductor announced that its Board of Directors has authorized a share buyback program on Thursday, November 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 20.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of large investors have recently modified their holdings of ON. Nan Shan Life Insurance Co. Ltd. acquired a new stake in ON Semiconductor during the 2nd quarter worth $84,493,000. BRILLIANCE ASSET MANAGEMENT Ltd acquired a new stake in ON Semiconductor during the 2nd quarter worth $79,320,000. Pictet Asset Management Ltd. boosted its stake in ON Semiconductor by 24.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 11,721,514 shares of the semiconductor company’s stock worth $216,028,000 after purchasing an additional 2,278,586 shares during the period. Dimensional Fund Advisors LP boosted its stake in ON Semiconductor by 45.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,898,808 shares of the semiconductor company’s stock worth $127,137,000 after purchasing an additional 2,151,387 shares during the period. Finally, Capital International Investors boosted its stake in ON Semiconductor by 9.0% during the 3rd quarter. Capital International Investors now owns 20,741,159 shares of the semiconductor company’s stock worth $382,260,000 after purchasing an additional 1,712,102 shares during the period. Hedge funds and other institutional investors own 90.85% of the company’s stock.

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About ON Semiconductor (NASDAQ:ON)

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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