Vestcor Inc Has $314,000 Stock Holdings in ON Semiconductor Corporation (NASDAQ:ON)

Vestcor Inc lessened its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON) by 64.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,705 shares of the semiconductor company’s stock after selling 13,752 shares during the period. Vestcor Inc’s holdings in ON Semiconductor were worth $314,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Elequin Capital LP lifted its position in shares of ON Semiconductor by 108.3% during the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of ON Semiconductor by 1.2% during the 4th quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company’s stock worth $1,674,000 after purchasing an additional 312 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of ON Semiconductor by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 320 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in ON Semiconductor by 4.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company’s stock valued at $408,000 after acquiring an additional 463 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in ON Semiconductor by 2.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 17,696 shares of the semiconductor company’s stock valued at $1,116,000 after acquiring an additional 468 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ON shares. Susquehanna upped their price target on ON Semiconductor from $50.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, July 22nd. Roth Capital reiterated a “buy” rating and issued a $70.00 price objective (up from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Wells Fargo & Company reiterated an “overweight” rating and issued a $65.00 price objective (up from $60.00) on shares of ON Semiconductor in a research note on Wednesday, July 16th. Loop Capital lowered their price objective on ON Semiconductor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus upped their price objective on ON Semiconductor from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, July 18th. Fourteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, ON Semiconductor presently has an average rating of “Hold” and an average price target of $56.46.

ON Semiconductor Stock Performance

Shares of ON Semiconductor stock opened at $47.97 on Tuesday. The company has a market capitalization of $20.05 billion, a PE ratio of 33.31, a PEG ratio of 4.67 and a beta of 1.45. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $78.61. 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 stock’s fifty day simple moving average is $53.97 and its 200 day simple moving average is $47.71.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.45 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. On average, research analysts predict that ON Semiconductor Corporation will post 2.6 EPS for the current year.

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.