Engineers Gate Manager LP Acquires 73,765 Shares of ON Semiconductor Corporation (ON)

Engineers Gate Manager LP raised its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON) by 103.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,130 shares of the semiconductor company’s stock after buying an additional 73,765 shares during the period. Engineers Gate Manager LP’s holdings in ON Semiconductor were worth $2,681,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Unterberg Capital LLC acquired a new position in shares of ON Semiconductor during the third quarter worth $1,108,000. Convergence Investment Partners LLC acquired a new position in shares of ON Semiconductor during the third quarter worth $3,224,000. Invictus RG acquired a new position in shares of ON Semiconductor during the third quarter worth $409,000. Pinebridge Investments L.P. acquired a new position in shares of ON Semiconductor during the third quarter worth $3,968,000. Finally, OxFORD Asset Management LLP acquired a new position in shares of ON Semiconductor during the third quarter worth $8,535,000. 99.82% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on ON. ValuEngine cut shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Bank of America reissued a “buy” rating and set a $25.00 target price on shares of ON Semiconductor in a research report on Monday, November 13th. Zacks Investment Research lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. B. Riley lifted their price target on shares of ON Semiconductor from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Finally, Credit Suisse Group lifted their price target on shares of ON Semiconductor from $14.50 to $17.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $21.23.

Shares of ON Semiconductor Corporation (ON) opened at $19.22 on Thursday. 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 Corporation has a 12 month low of $11.25 and a 12 month high of $22.15. The stock has a market cap of $8,126.95, a price-to-earnings ratio of 17.58, a P/E/G ratio of 0.73 and a beta of 2.02.

In other ON Semiconductor news, CEO Keith D. Jackson sold 476,191 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $19.59, for a total transaction of $9,328,581.69. Following the completion of the sale, the chief executive officer now owns 3,649,468 shares in the company, valued at $71,493,078.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO William A. Schromm sold 54,366 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $21.18, for a total transaction of $1,151,471.88. Following the sale, the chief operating officer now owns 666,815 shares of the company’s stock, valued at approximately $14,123,141.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 740,243 shares of company stock valued at $14,692,763. 1.60% of the stock is owned by insiders.

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ON Semiconductor 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.

Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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