Mizuho Securities Co. Ltd. Has $45,000 Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

Mizuho Securities Co. Ltd. cut its stake in ON Semiconductor Corporation (NASDAQ:ON) by 58.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,100 shares of the semiconductor company’s stock after selling 1,520 shares during the period. Mizuho Securities Co. Ltd.’s holdings in ON Semiconductor were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Elequin Capital LP lifted its position in ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 274 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in ON Semiconductor during the first quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in ON Semiconductor during the fourth quarter worth approximately $43,000. Plato Investment Management Ltd acquired a new stake in ON Semiconductor during the fourth quarter worth approximately $51,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in ON Semiconductor by 69.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,263 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 518 shares during the period. 97.70% of the stock is owned by institutional investors.

ON Semiconductor Trading Up 1.1%

ON opened at $52.82 on Friday. The company’s 50 day moving average is $43.53 and its 200-day moving average is $49.29. ON Semiconductor Corporation has a 1-year low of $31.04 and a 1-year high of $80.08. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. The company has a market cap of $22.07 billion, a P/E ratio of 36.68, a PEG ratio of 4.26 and a beta of 1.39.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company posted $1.08 EPS. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. Equities research analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ON shares. Wells Fargo & Company raised their price target on shares of ON Semiconductor from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Morgan Stanley started coverage on shares of ON Semiconductor in a research report on Monday, May 12th. They set an “equal weight” rating and a $39.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of ON Semiconductor from $60.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Needham & Company LLC lowered their price target on shares of ON Semiconductor from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their price target on shares of ON Semiconductor from $52.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, ON Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $55.62.

About ON Semiconductor

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.