California State Teachers Retirement System Boosts Stock Position in ON Semiconductor Corp (NASDAQ:ON)

California State Teachers Retirement System lifted its stake in ON Semiconductor Corp (NASDAQ:ON) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 658,245 shares of the semiconductor company’s stock after acquiring an additional 2,256 shares during the period. California State Teachers Retirement System owned approximately 0.16% of ON Semiconductor worth $12,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in ON Semiconductor by 19.4% in the 2nd quarter. Janus Henderson Group PLC now owns 36,912,800 shares of the semiconductor company’s stock worth $746,008,000 after purchasing an additional 6,008,620 shares in the last quarter. Pictet Asset Management Ltd. grew its position in shares of ON Semiconductor by 4.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 11,983,810 shares of the semiconductor company’s stock valued at $230,209,000 after purchasing an additional 547,060 shares in the last quarter. LSV Asset Management grew its position in shares of ON Semiconductor by 5.7% during the 2nd quarter. LSV Asset Management now owns 10,028,421 shares of the semiconductor company’s stock valued at $202,674,000 after purchasing an additional 537,400 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of ON Semiconductor by 185.3% in the second quarter. Point72 Asset Management L.P. now owns 5,706,798 shares of the semiconductor company’s stock worth $115,334,000 after purchasing an additional 3,706,611 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of ON Semiconductor by 9.4% in the second quarter. Schroder Investment Management Group now owns 4,288,954 shares of the semiconductor company’s stock worth $86,680,000 after purchasing an additional 368,151 shares during the period. Institutional investors own 96.91% of the company’s stock.

ON has been the subject of several research analyst reports. ValuEngine upgraded ON Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. BidaskClub cut ON Semiconductor from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded ON Semiconductor from a “hold” rating to a “sell” rating and set a $19.00 price target for the company. in a research report on Wednesday, October 9th. Raymond James raised ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Monday, August 19th. Finally, Loop Capital decreased their price objective on shares of ON Semiconductor to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. ON Semiconductor has a consensus rating of “Buy” and an average price target of $25.04.

In other news, CFO Bernard Gutmann sold 43,266 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $18.79, for a total transaction of $812,968.14. Following the completion of the sale, the chief financial officer now owns 700,344 shares of the company’s stock, valued at $13,159,463.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daryl Ostrander sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $22.14, for a total transaction of $66,420.00. Following the completion of the transaction, the director now owns 93,474 shares in the company, valued at approximately $2,069,514.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,535 shares of company stock worth $1,737,379. 1.40% of the stock is owned by corporate insiders.

Shares of NASDAQ ON opened at $20.67 on Wednesday. The stock’s 50-day moving average is $20.70 and its 200 day moving average is $19.47. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.42 and a beta of 2.19. ON Semiconductor Corp has a 1-year low of $15.06 and a 1-year high of $23.54. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.89.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Sunday, October 27th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). ON Semiconductor had a net margin of 5.71% and a return on equity of 21.95%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. On average, analysts forecast that ON Semiconductor Corp will post 1.51 EPS for the current fiscal year.

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.

Further Reading: Straddles

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

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