Renaissance Technologies LLC grew its position in ON Semiconductor Corp (NASDAQ:ON) by 29.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,465,296 shares of the semiconductor company’s stock after purchasing an additional 563,900 shares during the period. Renaissance Technologies LLC owned approximately 0.58% of ON Semiconductor worth $51,623,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in ON Semiconductor during the 4th quarter valued at about $101,000. Fuller & Thaler Asset Management Inc. bought a new position in ON Semiconductor in the fourth quarter valued at approximately $174,000. American International Group Inc. bought a new position in ON Semiconductor in the fourth quarter valued at approximately $206,000. Prospera Financial Services Inc bought a new position in ON Semiconductor in the fourth quarter valued at approximately $224,000. Finally, Ifrah Financial Services Inc. bought a new position in ON Semiconductor in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 97.17% of the company’s stock.
A number of brokerages have recently commented on ON. ValuEngine raised shares of ON Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, March 6th. Mizuho upped their price target on shares of ON Semiconductor from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Citigroup upped their price target on shares of ON Semiconductor from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, Piper Jaffray began coverage on shares of ON Semiconductor in a research report on Monday, December 18th. They set a “neutral” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. ON Semiconductor has an average rating of “Buy” and an average target price of $24.09.
In other ON Semiconductor news, EVP William Hall sold 22,583 shares of ON Semiconductor stock in a transaction dated Tuesday, January 16th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP George H. Cave sold 3,000 shares of ON Semiconductor stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $22.85, for a total value of $68,550.00. Following the transaction, the executive vice president now directly owns 394,570 shares of the company’s stock, valued at approximately $9,015,924.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 277,983 shares of company stock valued at $6,992,321. Insiders own 1.60% of the company’s stock.
ON stock opened at $23.42 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.31 and a current ratio of 2.08. ON Semiconductor Corp has a 52 week low of $13.65 and a 52 week high of $27.10. The stock has a market capitalization of $10,350.97, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.15 and a beta of 2.00.
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 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 14.63% and a return on equity of 21.88%. ON Semiconductor’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. analysts predict that ON Semiconductor Corp will post 1.73 EPS for the current year.
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ON Semiconductor Company Profile
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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