Swiss National Bank Cuts Stock Holdings in ON Semiconductor Corp (NASDAQ:ON)

Swiss National Bank decreased its holdings in shares of ON Semiconductor Corp (NASDAQ:ON) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,340,000 shares of the semiconductor company’s stock after selling 65,100 shares during the quarter. Swiss National Bank owned 0.32% of ON Semiconductor worth $27,081,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stephens Inc. AR lifted its position in ON Semiconductor by 11.2% in the second quarter. Stephens Inc. AR now owns 4,983 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 503 shares during the last quarter. CFO4Life Group LLC increased its stake in shares of ON Semiconductor by 2.3% during the second quarter. CFO4Life Group LLC now owns 28,915 shares of the semiconductor company’s stock valued at $584,000 after buying an additional 659 shares during the period. Berman Capital Advisors LLC increased its stake in shares of ON Semiconductor by 79.8% during the first quarter. Berman Capital Advisors LLC now owns 1,539 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 683 shares during the period. Zeke Capital Advisors LLC increased its stake in shares of ON Semiconductor by 2.2% during the second quarter. Zeke Capital Advisors LLC now owns 36,967 shares of the semiconductor company’s stock valued at $747,000 after buying an additional 789 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in shares of ON Semiconductor by 4.0% during the second quarter. Koshinski Asset Management Inc. now owns 22,103 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 840 shares during the period. 98.13% of the stock is owned by institutional investors.

Shares of NASDAQ:ON opened at $18.69 on Thursday. The company has a market cap of $7.39 billion, a P/E ratio of 9.54, a PEG ratio of 1.71 and a beta of 2.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.42 and a quick ratio of 1.41. ON Semiconductor Corp has a 1 year low of $14.55 and a 1 year high of $23.54. The stock’s fifty day moving average price is $19.56 and its 200-day moving average price is $20.73.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. ON Semiconductor’s revenue was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that ON Semiconductor Corp will post 1.58 earnings per share for the current year.

In other news, VP Paul E. Rolls sold 11,467 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $22.00, for a total value of $252,274.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Emmanuel T. Hernandez sold 30,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 100,994 shares in the company, valued at approximately $2,221,868. The disclosure for this sale can be found here. In the last three months, insiders sold 48,198 shares of company stock worth $1,042,444. 1.40% of the stock is owned by corporate insiders.

ON has been the topic of several research analyst reports. BidaskClub cut ON Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. ValuEngine raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. B. Riley reaffirmed a “buy” rating on shares of ON Semiconductor in a research note on Monday, August 5th. Raymond James raised ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Monday. Finally, Cowen reaffirmed an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of ON Semiconductor in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. ON Semiconductor has a consensus rating of “Buy” and a consensus target price of $24.10.

About ON Semiconductor

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

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