Spire Wealth Management Has $1.34 Million Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

Spire Wealth Management raised its stake in ON Semiconductor Corporation (NASDAQ:ON) by 1,384.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,894 shares of the semiconductor company’s stock after buying an additional 30,678 shares during the quarter. Spire Wealth Management’s holdings in ON Semiconductor were worth $1,338,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Elequin Capital LP grew its position in ON Semiconductor by 108.3% in 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 in the last quarter. Opal Wealth Advisors LLC bought a new stake in ON Semiconductor in the first quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd bought a new stake in ON Semiconductor in the fourth quarter worth approximately $43,000. Plato Investment Management Ltd bought a new stake in ON Semiconductor in the fourth quarter worth approximately $51,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in ON Semiconductor by 69.5% in 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 in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ON. Roth Capital reissued a “buy” rating and issued a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. KGI Securities began coverage on shares of ON Semiconductor in a research report on Friday, May 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their target price 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. Needham & Company LLC decreased their price objective on shares of ON Semiconductor from $57.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their price objective on shares of ON Semiconductor from $52.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.08.

ON Semiconductor Price Performance

NASDAQ:ON opened at $53.65 on Friday. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $80.08. The stock has a market cap of $22.42 billion, a P/E ratio of 37.26, a PEG ratio of 4.38 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. The company has a fifty day moving average price of $45.02 and a 200 day moving average price of $48.93.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The business’s revenue was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 EPS. Analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

ON Semiconductor Company Profile

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.