Tairen Capital Ltd bought a new stake in shares of ON Semiconductor Corp (NASDAQ:ON) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 26,000 shares of the semiconductor company’s stock, valued at approximately $525,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ON. Janus Henderson Group PLC lifted its position in ON Semiconductor by 19.4% in the second quarter. Janus Henderson Group PLC now owns 36,912,800 shares of the semiconductor company’s stock worth $746,008,000 after buying an additional 6,008,620 shares during the last quarter. Villere ST Denis J & Co. LLC purchased a new stake in ON Semiconductor in the second quarter worth $68,973,000. Westfield Capital Management Co. LP increased its stake in ON Semiconductor by 120.4% in the second quarter. Westfield Capital Management Co. LP now owns 4,101,364 shares of the semiconductor company’s stock worth $82,889,000 after purchasing an additional 2,240,369 shares during the period. Rothschild & Co. Asset Management US Inc. purchased a new stake in ON Semiconductor in the second quarter worth $33,016,000. Finally, First Trust Advisors LP increased its stake in ON Semiconductor by 98.7% in the second quarter. First Trust Advisors LP now owns 1,808,204 shares of the semiconductor company’s stock worth $36,544,000 after purchasing an additional 898,371 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.
In other ON Semiconductor news, Director Emmanuel T. Hernandez sold 30,000 shares of ON Semiconductor stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $22.00, for a total value of $660,000.00. Following the transaction, the director now owns 100,994 shares in the company, valued at $2,221,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul E. Rolls sold 11,467 shares of ON Semiconductor stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $22.00, for a total value of $252,274.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Shares of ON Semiconductor stock traded down $0.12 during trading on Monday, hitting $20.00. 2,956,011 shares of the stock traded hands, compared to its average volume of 4,880,340. The firm has a market cap of $8.22 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.91 and a beta of 2.19. The company has a current ratio of 2.42, a quick ratio of 1.41 and a debt-to-equity ratio of 1.08. ON Semiconductor Corp has a 52-week low of $14.55 and a 52-week high of $23.54. The stock’s fifty day simple moving average is $18.66 and its 200 day simple moving average is $20.27.
ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Sunday, August 4th. The semiconductor company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.38 billion. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, equities analysts expect that ON Semiconductor Corp will post 1.56 EPS for the current year.
A number of research firms have weighed in on ON. BNP Paribas began coverage on ON Semiconductor in a research note on Friday, August 30th. They issued an “outperform” rating on the stock. Mizuho reiterated a “buy” rating and issued a $26.00 target price on shares of ON Semiconductor in a research note on Monday, August 5th. ValuEngine upgraded ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Loop Capital reduced their target price on ON Semiconductor to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, BidaskClub upgraded ON Semiconductor from a “strong sell” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.10.
ON Semiconductor Company Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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