Penserra Capital Management LLC Has $27.31 Million Stock Holdings in ON Semiconductor Corporation $ON

Penserra Capital Management LLC boosted its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON) by 47.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,871 shares of the semiconductor company’s stock after acquiring an additional 178,076 shares during the quarter. Penserra Capital Management LLC owned 0.14% of ON Semiconductor worth $27,309,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Private Trust Co. NA grew its stake in shares of ON Semiconductor by 72.8% in the third quarter. Private Trust Co. NA now owns 522 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares during the last quarter. Quent Capital LLC acquired a new position in ON Semiconductor during the 3rd quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in ON Semiconductor by 68.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 577 shares of the semiconductor company’s stock worth $28,000 after buying an additional 235 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of ON Semiconductor by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 568 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 218 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of ON Semiconductor in the second quarter valued at about $29,000. Institutional investors own 97.70% of the company’s stock.

ON Semiconductor Stock Down 3.4%

Shares of NASDAQ ON opened at $59.43 on Wednesday. The company has a quick ratio of 3.54, a current ratio of 5.23 and a debt-to-equity ratio of 0.43. The firm has a market cap of $23.91 billion, a PE ratio of 77.18, a P/E/G ratio of 2.67 and a beta of 1.56. The company’s fifty day simple moving average is $57.28 and its 200 day simple moving average is $52.88. ON Semiconductor Corporation has a 12-month low of $31.04 and a 12-month high of $66.86.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. ON Semiconductor had a net margin of 5.16% and a return on equity of 13.60%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. As a group, sell-side analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

ON Semiconductor declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 18th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 32.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Trent Thad sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $55.05, for a total value of $1,101,000.00. Following the completion of the sale, the chief financial officer directly owned 379,448 shares of the company’s stock, valued at $20,888,612.40. The trade was a 5.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.

ON Semiconductor News Summary

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: Recent track record includes an earnings beat last quarter (reported $0.63 vs. $0.59 est.) and analysts still expect roughly 2.6 EPS for the current fiscal year, which provides a baseline for upside if management reiterates or raises guidance.
• Neutral Sentiment: The company is projected to post quarterly results on Monday — a scheduled earnings release that creates a catalyst but not new information until the report and any guidance are released. ON Semiconductor Projected to Post Earnings
• Negative Sentiment: Fundamentals and valuation raise downside sensitivity: last quarter revenue declined ~12% year-over-year, the stock trades at a high P/E (~77), and near-term guidance that disappoints could amplify the sell-off given elevated expectations.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on ON Semiconductor from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Citigroup upped their price objective on shares of ON Semiconductor from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. UBS Group reiterated a “neutral” rating on shares of ON Semiconductor in a research report on Monday. Cantor Fitzgerald restated a “neutral” rating on shares of ON Semiconductor in a report on Tuesday, December 16th. Finally, TD Cowen reaffirmed a “buy” rating on shares of ON Semiconductor in a research report on Tuesday, November 4th. Thirteen analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.30.

About ON Semiconductor

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.