ON Semiconductor Corp (NASDAQ:ON) Stock Position Raised by Morris Capital Advisors LLC

Morris Capital Advisors LLC lifted its position in ON Semiconductor Corp (NASDAQ:ONGet Rating) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,266 shares of the semiconductor company’s stock after acquiring an additional 300 shares during the quarter. ON Semiconductor makes up about 2.4% of Morris Capital Advisors LLC’s holdings, making the stock its 20th biggest holding. Morris Capital Advisors LLC’s holdings in ON Semiconductor were worth $2,680,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ON. Norges Bank purchased a new stake in ON Semiconductor in the 4th quarter worth approximately $373,702,000. Mackenzie Financial Corp increased its stake in shares of ON Semiconductor by 231.5% during the 4th quarter. Mackenzie Financial Corp now owns 5,139,465 shares of the semiconductor company’s stock worth $349,072,000 after purchasing an additional 3,588,933 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of ON Semiconductor by 18.0% during the 4th quarter. Allianz Asset Management GmbH now owns 14,591,648 shares of the semiconductor company’s stock worth $991,036,000 after purchasing an additional 2,226,677 shares during the last quarter. Pendal Group Ltd increased its stake in shares of ON Semiconductor by 3,085.9% during the 1st quarter. Pendal Group Ltd now owns 1,808,674 shares of the semiconductor company’s stock worth $113,241,000 after purchasing an additional 1,751,903 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of ON Semiconductor by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock worth $2,608,483,000 after purchasing an additional 1,494,114 shares during the last quarter. Hedge funds and other institutional investors own 99.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ON. Mizuho increased their price target on shares of ON Semiconductor from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ON Semiconductor from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Piper Sandler raised their target price on shares of ON Semiconductor from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, August 15th. Susquehanna Bancshares raised their target price on shares of ON Semiconductor from $77.00 to $82.00 and gave the company a “positive” rating in a research note on Tuesday, August 2nd. Finally, Summit Insights lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.30.

Insider Buying and Selling

In other ON Semiconductor news, EVP Simon Keeton sold 2,813 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $70.00, for a total value of $196,910.00. Following the completion of the sale, the executive vice president now owns 167,341 shares of the company’s stock, valued at $11,713,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ON Semiconductor news, CEO Hassane El-Khoury sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $56.17, for a total value of $1,123,400.00. Following the completion of the sale, the chief executive officer now owns 261,162 shares of the company’s stock, valued at $14,669,469.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Simon Keeton sold 2,813 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $70.00, for a total transaction of $196,910.00. Following the completion of the sale, the executive vice president now directly owns 167,341 shares of the company’s stock, valued at approximately $11,713,870. The disclosure for this sale can be found here. Insiders sold a total of 27,363 shares of company stock valued at $1,661,560 over the last ninety days. Insiders own 0.40% of the company’s stock.

ON Semiconductor Price Performance

Shares of NASDAQ ON traded down $1.63 during trading on Friday, reaching $63.33. The company had a trading volume of 542,515 shares, compared to its average volume of 7,022,311. ON Semiconductor Corp has a 52 week low of $41.88 and a 52 week high of $76.78. The stock has a market cap of $27.44 billion, a PE ratio of 16.83, a PEG ratio of 0.52 and a beta of 1.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.88 and a current ratio of 2.79. The business’s 50 day moving average price is $66.97 and its 200-day moving average price is $59.94.

ON Semiconductor (NASDAQ:ONGet Rating) last announced its earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The company’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Analysts expect that ON Semiconductor Corp will post 5.13 earnings per share for the current year.

ON Semiconductor Company Profile

(Get Rating)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

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

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