Sterling Capital Management LLC cut its holdings in ON Semiconductor Corp (NASDAQ:ON) by 22.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,305,134 shares of the semiconductor company’s stock after selling 368,540 shares during the period. Sterling Capital Management LLC’s holdings in ON Semiconductor were worth $27,330,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Convergence Investment Partners LLC raised its position in ON Semiconductor by 4.9% in the fourth quarter. Convergence Investment Partners LLC now owns 183,149 shares of the semiconductor company’s stock worth $3,835,000 after acquiring an additional 8,579 shares during the period. Public Employees Retirement System of Ohio raised its position in ON Semiconductor by 10.6% in the third quarter. Public Employees Retirement System of Ohio now owns 197,277 shares of the semiconductor company’s stock worth $3,644,000 after acquiring an additional 18,934 shares during the period. GSA Capital Partners LLP raised its position in ON Semiconductor by 50.4% in the third quarter. GSA Capital Partners LLP now owns 39,059 shares of the semiconductor company’s stock worth $721,000 after acquiring an additional 13,087 shares during the period. Swiss National Bank raised its position in ON Semiconductor by 2.1% in the fourth quarter. Swiss National Bank now owns 718,100 shares of the semiconductor company’s stock worth $15,037,000 after acquiring an additional 14,500 shares during the period. Finally, Chicago Equity Partners LLC raised its position in ON Semiconductor by 7.0% in the fourth quarter. Chicago Equity Partners LLC now owns 120,035 shares of the semiconductor company’s stock worth $2,514,000 after acquiring an additional 7,835 shares during the period. Institutional investors and hedge funds own 97.17% of the company’s stock.
In related news, EVP Robert A. Klosterboer sold 16,249 shares of ON Semiconductor stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $25.88, for a total transaction of $420,524.12. Following the completion of the sale, the executive vice president now owns 363,030 shares in the company, valued at approximately $9,395,216.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard Raymond Colpitts, Jr. sold 5,838 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $26.09, for a total transaction of $152,313.42. Following the completion of the sale, the insider now owns 17,803 shares of the company’s stock, valued at approximately $464,480.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,282 shares of company stock valued at $3,247,913. 1.40% of the stock is owned by corporate insiders.
ON stock opened at $25.95 on Wednesday. ON Semiconductor Corp has a 52 week low of $13.65 and a 52 week high of $27.10. The company has a market cap of $10,852.99, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The company has a quick ratio of 1.31, a current ratio of 2.08 and a debt-to-equity ratio of 0.97.
ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Friday, February 2nd. The semiconductor company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. ON Semiconductor had a net margin of 14.63% and a return on equity of 21.88%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. sell-side analysts anticipate that ON Semiconductor Corp will post 1.73 earnings per share for the current fiscal year.
Several analysts have recently commented on ON shares. ValuEngine downgraded shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. KeyCorp restated a “hold” rating on shares of ON Semiconductor in a research report on Monday, December 11th. Morgan Stanley raised their price objective on shares of ON Semiconductor from $18.50 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Piper Jaffray Companies started coverage on shares of ON Semiconductor in a research report on Monday, December 18th. They set a “neutral” rating and a $21.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of ON Semiconductor in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.09.
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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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