Traders Purchase Large Volume of Call Options on ON Semiconductor (NASDAQ:ON)

ON Semiconductor Corp (NASDAQ:ON) saw some unusual options trading activity on Thursday. Investors bought 24,369 call options on the company. This represents an increase of 1,440% compared to the typical daily volume of 1,582 call options.

Shares of ON Semiconductor (NASDAQ:ON) traded up $0.58 on Wednesday, reaching $22.34. 7,330,559 shares of the company’s stock traded hands, compared to its average volume of 8,470,000. The stock has a market cap of $9,480.00, a PE ratio of 11.88, a P/E/G ratio of 1.01 and a beta of 2.08. 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 has a fifty-two week low of $13.65 and a fifty-two week high of $25.60.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. ON Semiconductor had a net margin of 38.55% and a return on equity of 85.17%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. analysts predict that ON Semiconductor will post 1.73 earnings per share for the current fiscal year.

In related news, EVP William Hall sold 22,583 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daryl Ostrander sold 1,398 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $19.10, for a total transaction of $26,701.80. Following the sale, the director now directly owns 64,060 shares in the company, valued at approximately $1,223,546. The disclosure for this sale can be found here. Insiders have sold a total of 43,880 shares of company stock worth $989,468 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Sensato Investors LLC bought a new position in shares of ON Semiconductor in the 4th quarter worth about $262,000. Tyers Asset Management LLC increased its stake in shares of ON Semiconductor by 155.9% in the 4th quarter. Tyers Asset Management LLC now owns 284,172 shares of the semiconductor company’s stock worth $5,951,000 after acquiring an additional 173,124 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of ON Semiconductor by 6.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,978,540 shares of the semiconductor company’s stock worth $41,431,000 after acquiring an additional 122,317 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in shares of ON Semiconductor by 4.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 69,489 shares of the semiconductor company’s stock worth $1,455,000 after acquiring an additional 2,858 shares in the last quarter. Finally, Paloma Partners Management Co increased its stake in shares of ON Semiconductor by 19.4% in the 4th quarter. Paloma Partners Management Co now owns 41,483 shares of the semiconductor company’s stock worth $869,000 after acquiring an additional 6,728 shares in the last quarter. 99.81% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on ON. Jefferies Group reissued a “hold” rating and issued a $26.00 price target on shares of ON Semiconductor in a report on Tuesday, February 6th. Credit Suisse Group increased their price target on shares of ON Semiconductor from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. BidaskClub lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Vetr raised shares of ON Semiconductor from a “buy” rating to a “strong-buy” rating and set a $26.75 price target on the stock in a report on Monday, February 5th. Finally, Robert W. Baird increased their price target on shares of ON Semiconductor from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.99.

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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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