Dimensional Fund Advisors LP lifted its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 45.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,898,808 shares of the semiconductor company’s stock after purchasing an additional 2,151,387 shares during the period. Dimensional Fund Advisors LP’s holdings in ON Semiconductor were worth $127,137,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ON. Meiji Yasuda Life Insurance Co bought a new stake in shares of ON Semiconductor during the 3rd quarter worth about $478,000. Quantbot Technologies LP boosted its stake in shares of ON Semiconductor by 13.5% during the 3rd quarter. Quantbot Technologies LP now owns 78,141 shares of the semiconductor company’s stock worth $1,440,000 after acquiring an additional 9,314 shares in the last quarter. Gideon Capital Advisors Inc. lifted its position in shares of ON Semiconductor by 155.8% during the 3rd quarter. Gideon Capital Advisors Inc. now owns 68,144 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 41,502 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in shares of ON Semiconductor by 24.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 11,721,514 shares of the semiconductor company’s stock worth $216,028,000 after purchasing an additional 2,278,586 shares during the last quarter. Finally, Income Research & Management acquired a new position in shares of ON Semiconductor during the 3rd quarter worth about $944,000. 91.81% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on ON shares. BidaskClub raised ON Semiconductor from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Craig Hallum reissued a “buy” rating and issued a $25.00 target price (down from $31.00) on shares of ON Semiconductor in a report on Tuesday, October 30th. ValuEngine cut ON Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Citigroup decreased their price target on ON Semiconductor from $28.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Finally, Nomura decreased their price target on ON Semiconductor from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $24.29.
In related news, Director Paul Anthony Mascarenas sold 9,100 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $18.16, for a total transaction of $165,256.00. Following the sale, the director now owns 57,104 shares of the company’s stock, valued at approximately $1,037,008.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul E. Rolls sold 31,487 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $20.00, for a total value of $629,740.00. The disclosure for this sale can be found here. Insiders sold a total of 86,650 shares of company stock worth $1,660,553 over the last quarter. Corporate insiders own 1.60% of the company’s stock.
NASDAQ ON opened at $18.27 on Friday. The company has a market cap of $7.77 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 0.75 and a beta of 2.04. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.44 and a current ratio of 2.36. ON Semiconductor Corp has a one year low of $14.55 and a one year high of $27.10.
ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.51 billion. ON Semiconductor had a return on equity of 25.97% and a net margin of 17.24%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Analysts forecast that ON Semiconductor Corp will post 1.9 earnings per share for the current fiscal year.
ON Semiconductor announced that its Board of Directors has approved a stock buyback program on Thursday, November 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 20.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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ON Semiconductor Company Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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