ON Semiconductor Corporation $ON Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,834 shares of the semiconductor company’s stock after selling 2,397 shares during the quarter. Amalgamated Bank’s holdings in ON Semiconductor were worth $4,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in shares of ON Semiconductor during the first quarter worth approximately $26,000. Trust Co. of Toledo NA OH purchased a new position in shares of ON Semiconductor during the second quarter worth approximately $29,000. Geneos Wealth Management Inc. grew its position in shares of ON Semiconductor by 61.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,335 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 507 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of ON Semiconductor during the second quarter worth approximately $57,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of ON Semiconductor by 295.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,475 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 1,102 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the topic of a number of research reports. Truist Financial raised their target price on shares of ON Semiconductor from $43.00 to $49.00 and gave the stock a “hold” rating in a research report on Tuesday, August 5th. B. Riley reiterated a “neutral” rating on shares of ON Semiconductor in a research report on Tuesday, August 5th. Needham & Company LLC lifted their price objective on shares of ON Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their price objective on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Finally, KeyCorp lifted their price objective on shares of ON Semiconductor from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.96.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $51.22, for a total value of $768,300.00. Following the completion of the transaction, the chief executive officer owned 977,814 shares of the company’s stock, valued at approximately $50,083,633.08. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

ON Semiconductor Price Performance

ON Semiconductor stock opened at $50.08 on Monday. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $74.52. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $50.21 and its 200 day simple moving average is $49.54. The firm has a market capitalization of $20.48 billion, a PE ratio of 46.80, a P/E/G ratio of 2.58 and a beta of 1.49.

ON Semiconductor (NASDAQ:ON) last released 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). ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. ON Semiconductor’s quarterly revenue was down 15.4% on a year-over-year basis. On average, equities research analysts predict that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal 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.