US Bancorp DE Has $5.14 Million Position in ON Semiconductor Corporation (NASDAQ:ON)

US Bancorp DE lowered its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 15.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 54,310 shares of the semiconductor company’s stock after selling 9,553 shares during the quarter. US Bancorp DE’s holdings in ON Semiconductor were worth $5,137,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ON. HighTower Advisors LLC boosted its holdings in shares of ON Semiconductor by 3.2% in the 1st quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock valued at $1,716,000 after purchasing an additional 845 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of ON Semiconductor in the 1st quarter valued at $1,171,000. Yousif Capital Management LLC boosted its holdings in shares of ON Semiconductor by 4.2% in the 1st quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock valued at $618,000 after purchasing an additional 395 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of ON Semiconductor by 15.4% in the 1st quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 793 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in ON Semiconductor by 22.0% in the 1st quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 768 shares during the last quarter. Institutional investors and hedge funds own 96.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Rosenblatt Securities dropped their price objective on shares of ON Semiconductor from $100.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, October 31st. Bank of America increased their target price on shares of ON Semiconductor from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus increased their target price on shares of ON Semiconductor from $98.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, August 1st. Morgan Stanley reduced their price objective on shares of ON Semiconductor from $110.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of ON Semiconductor from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.88.

Insider Transactions at ON Semiconductor

In other news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of ON Semiconductor stock in a transaction on Monday, September 11th. The stock was sold at an average price of $99.18, for a total transaction of $277,208.10. Following the sale, the chief accounting officer now directly owns 32,050 shares in the company, valued at approximately $3,178,719. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

ON Semiconductor Price Performance

Shares of NASDAQ:ON opened at $70.68 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $83.29 and its two-hundred day simple moving average is $89.57. ON Semiconductor Corporation has a 1-year low of $59.61 and a 1-year high of $111.35. The stock has a market cap of $30.44 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 3.36 and a beta of 1.84.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 30th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.05. ON Semiconductor had a return on equity of 33.78% and a net margin of 26.69%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the business earned $1.45 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, analysts forecast that ON Semiconductor Corporation will post 5.13 EPS for the current fiscal year.

ON Semiconductor Profile

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.