Jensen Investment Management Inc. Acquires New Stake in ON Semiconductor Corp (NASDAQ:ON)

Jensen Investment Management Inc. purchased a new stake in shares of ON Semiconductor Corp (NASDAQ:ON) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,600 shares of the semiconductor company’s stock, valued at approximately $452,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ON. Prospera Financial Services Inc purchased a new stake in shares of ON Semiconductor during the 4th quarter worth approximately $224,000. BB&T Securities LLC bought a new position in ON Semiconductor in the 3rd quarter worth approximately $187,000. Cambridge Investment Research Advisors Inc. bought a new position in ON Semiconductor in the 3rd quarter worth approximately $200,000. Oppenheimer & Co. Inc. bought a new position in ON Semiconductor in the 3rd quarter worth approximately $231,000. Finally, Moors & Cabot Inc. bought a new position in ON Semiconductor in the 3rd quarter worth approximately $233,000. 99.81% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on ON. Mizuho raised their price target on shares of ON Semiconductor from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, February 5th. Jefferies Group restated a “hold” rating and set a $26.00 price objective on shares of ON Semiconductor in a research report on Tuesday, February 6th. Loop Capital lifted their target price on shares of ON Semiconductor from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Piper Jaffray Companies started coverage on shares of ON Semiconductor in a research report on Monday, December 18th. They issued a “neutral” rating and a $21.00 target price on the stock. Finally, Vetr upgraded shares of ON Semiconductor from a “buy” rating to a “strong-buy” rating and set a $26.75 target price on the stock in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.99.

In other ON Semiconductor news, Director Daryl Ostrander sold 1,398 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $19.10, for a total transaction of $26,701.80. Following the completion of the sale, the director now directly owns 64,060 shares of the company’s stock, valued at $1,223,546. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Paul E. Rolls sold 16,899 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $21.03, for a total transaction of $355,385.97. Following the sale, the vice president now directly owns 305,807 shares of the company’s stock, valued at $6,431,121.21. The disclosure for this sale can be found here. Insiders have sold 98,246 shares of company stock valued at $2,140,940 over the last three months. 1.40% of the stock is owned by corporate insiders.

ON Semiconductor Corp (ON) opened at $21.34 on Tuesday. The stock has a market cap of $8,971.03, a P/E ratio of 18.23, a PEG ratio of 1.00 and a beta of 2.08. ON Semiconductor Corp has a 52 week low of $13.65 and a 52 week high of $25.60. The company has a quick ratio of 1.25, a current ratio of 1.97 and a debt-to-equity ratio of 1.20.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. ON Semiconductor had a net margin of 14.63% and a return on equity of 23.64%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. research analysts forecast that ON Semiconductor Corp will post 1.73 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/13/21600-shares-in-on-semiconductor-corp-on-purchased-by-jensen-investment-management-inc.html.

About ON Semiconductor

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.

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

Receive News & Ratings for ON Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply