Pegasus Partners Ltd. Invests $1.24 Million in ON Semiconductor Corp (ON) Stock

Pegasus Partners Ltd. acquired a new stake in ON Semiconductor Corp (NASDAQ:ON) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 58,979 shares of the semiconductor company’s stock, valued at approximately $1,235,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Convergence Investment Partners LLC raised its stake in ON Semiconductor by 4.9% during the 4th quarter. Convergence Investment Partners LLC now owns 183,149 shares of the semiconductor company’s stock valued at $3,835,000 after buying an additional 8,579 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of ON Semiconductor by 10.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 197,277 shares of the semiconductor company’s stock worth $3,644,000 after purchasing an additional 18,934 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of ON Semiconductor by 50.4% in the 3rd quarter. GSA Capital Partners LLP now owns 39,059 shares of the semiconductor company’s stock worth $721,000 after purchasing an additional 13,087 shares in the last quarter. Chicago Equity Partners LLC increased its stake in shares of ON Semiconductor by 7.0% in the 4th quarter. Chicago Equity Partners LLC now owns 120,035 shares of the semiconductor company’s stock worth $2,514,000 after purchasing an additional 7,835 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of ON Semiconductor by 9.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,668,743 shares of the semiconductor company’s stock worth $49,292,000 after purchasing an additional 221,017 shares in the last quarter. 99.81% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on ON shares. Credit Suisse Group increased their price target on ON Semiconductor from $14.50 to $17.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 7th. Mizuho reiterated a “buy” rating and issued a $26.00 price target (up previously from $24.00) on shares of ON Semiconductor in a research note on Friday, January 12th. Summit Redstone lowered ON Semiconductor to a “hold” rating in a research note on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of ON Semiconductor in a research note on Monday, December 11th. Finally, B. Riley increased their price target on ON Semiconductor from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ON Semiconductor currently has a consensus rating of “Buy” and an average price target of $23.99.

Shares of ON Semiconductor Corp (ON) opened at $21.76 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 1.25. ON Semiconductor Corp has a 1 year low of $13.65 and a 1 year high of $25.60. The firm has a market cap of $9,051.62, a PE ratio of 18.40, a P/E/G ratio of 1.01 and a beta of 2.08.

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

In related news, EVP William Hall sold 22,583 shares of ON Semiconductor stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.86, for a total transaction of $538,830.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daryl Ostrander sold 1,398 shares of ON Semiconductor 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 transaction, the director now directly owns 64,060 shares in the company, valued at $1,223,546. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,880 shares of company stock worth $989,468. Corporate insiders own 1.40% of the company’s stock.

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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.

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

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