American Century Companies Inc. grew its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 3,992.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 498,180 shares of the semiconductor company’s stock after buying an additional 486,008 shares during the quarter. American Century Companies Inc.’s holdings in ON Semiconductor were worth $9,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ON. Comerica Bank raised its holdings in shares of ON Semiconductor by 3.4% in the 2nd quarter. Comerica Bank now owns 74,521 shares of the semiconductor company’s stock worth $1,782,000 after acquiring an additional 2,478 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of ON Semiconductor by 13.9% in the 2nd quarter. Independent Advisor Alliance now owns 20,734 shares of the semiconductor company’s stock worth $285,000 after acquiring an additional 2,526 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of ON Semiconductor by 28.0% in the 2nd quarter. Lido Advisors LLC now owns 12,589 shares of the semiconductor company’s stock worth $279,000 after acquiring an additional 2,754 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of ON Semiconductor by 6.1% in the 2nd quarter. Centaurus Financial Inc. now owns 52,124 shares of the semiconductor company’s stock worth $1,159,000 after acquiring an additional 2,999 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of ON Semiconductor by 10.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,363 shares of the semiconductor company’s stock worth $742,000 after acquiring an additional 3,242 shares during the last quarter. Hedge funds and other institutional investors own 90.85% of the company’s stock.

In other news, EVP William Hall sold 25,000 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $19.56, for a total transaction of $489,000.00. Following the completion of the transaction, the executive vice president now directly owns 415,797 shares of the company’s stock, valued at approximately $8,132,989.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vince Craig Hopkin sold 3,172 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $21.66, for a total transaction of $68,705.52. Following the transaction, the executive vice president now directly owns 84,114 shares of the company’s stock, valued at $1,821,909.24. The disclosure for this sale can be found here. Insiders have sold a total of 54,343 shares of company stock valued at $1,027,651 over the last three months. Insiders own 1.29% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. ValuEngine lowered shares of ON Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, November 12th. BMO Capital Markets assumed 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 on the stock. Morgan Stanley lowered their target price on shares of ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday, October 30th. Citigroup lowered their target price on shares of ON Semiconductor from $28.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Nomura lowered their target price on shares of ON Semiconductor from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. ON Semiconductor presently has an average rating of “Hold” and a consensus target price of $24.29.

NASDAQ:ON opened at $18.02 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 12.34, a PEG 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.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.51 billion. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities 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 share buyback plan on Thursday, November 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 20.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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About ON Semiconductor

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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