Johnson Investment Counsel Inc. decreased its stake in ON Semiconductor Co. (NASDAQ:ON) by 1.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,310 shares of the semiconductor company’s stock after selling 550 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in ON Semiconductor were worth $1,620,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in ON Semiconductor by 15.3% during the first quarter. Principal Financial Group Inc. now owns 27,616 shares of the semiconductor company’s stock worth $1,149,000 after purchasing an additional 3,659 shares in the last quarter. CIBC World Markets Inc. purchased a new position in ON Semiconductor during the first quarter worth approximately $272,000. Brinker Capital Investments LLC purchased a new position in ON Semiconductor during the first quarter worth approximately $1,616,000. Ensign Peak Advisors Inc boosted its position in ON Semiconductor by 56.5% during the first quarter. Ensign Peak Advisors Inc now owns 164,000 shares of the semiconductor company’s stock worth $6,824,000 after purchasing an additional 59,175 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in ON Semiconductor during the first quarter worth approximately $341,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.
ON has been the subject of a number of research analyst reports. Rosenblatt Securities increased their target price on ON Semiconductor from $44.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Bank of America increased their target price on ON Semiconductor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, September 17th. Jefferies Financial Group increased their target price on ON Semiconductor from $51.00 to $53.00 and gave the company a “buy” rating in a report on Friday, August 6th. Craig Hallum increased their target price on ON Semiconductor from $45.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Finally, B. Riley increased their target price on ON Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $48.58.
ON Semiconductor (NASDAQ:ON) last released its earnings results on Sunday, August 1st. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.14. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.62 billion. ON Semiconductor had a return on equity of 18.98% and a net margin of 8.85%. ON Semiconductor’s revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. Equities analysts forecast that ON Semiconductor Co. will post 2.49 EPS for the current year.
In other news, Director Gregory L. Waters bought 17,000 shares of the business’s stock in a transaction dated Tuesday, September 7th. The shares were acquired at an average price of $45.26 per share, for a total transaction of $769,420.00. Following the completion of the transaction, the director now owns 8,175 shares of the company’s stock, valued at $370,000.50. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP George H. Cave sold 11,210 shares of the business’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $45.20, for a total value of $506,692.00. Following the completion of the transaction, the executive vice president now owns 200,975 shares in the company, valued at approximately $9,084,070. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,700 shares of company stock valued at $1,150,993. 1.42% of the stock is currently owned by company insiders.
ON Semiconductor Profile
ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.
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