State of Michigan Retirement System Raises Stake in ON Semiconductor Corporation $ON

State of Michigan Retirement System raised its position in shares of ON Semiconductor Corporation (NASDAQ:ON) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 141,036 shares of the semiconductor company’s stock after purchasing an additional 3,700 shares during the period. State of Michigan Retirement System’s holdings in ON Semiconductor were worth $7,392,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in ON Semiconductor during the first quarter valued at approximately $26,000. Trust Co. of Toledo NA OH purchased a new position in shares of ON Semiconductor in the second quarter worth $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of ON Semiconductor by 61.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,335 shares of the semiconductor company’s stock worth $54,000 after buying an additional 507 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of ON Semiconductor in the second quarter worth $57,000. Finally, Covestor Ltd lifted its holdings in shares of ON Semiconductor by 70.1% in the first quarter. Covestor Ltd now owns 1,514 shares of the semiconductor company’s stock worth $62,000 after buying an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

ON Semiconductor Price Performance

ON Semiconductor stock opened at $50.46 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a 52-week low of $31.04 and a 52-week high of $74.52. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 2.58 and a beta of 1.49. The firm’s fifty day moving average is $50.20 and its 200 day moving average is $49.65.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. The business’s revenue was down 12.0% compared to the same quarter last year. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. Sell-side analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other ON Semiconductor news, CEO Hassane El-Khoury sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $51.22, for a total transaction of $768,300.00. Following the transaction, the chief executive officer owned 977,814 shares in the company, valued at $50,083,633.08. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen lowered their target price on shares of ON Semiconductor from $68.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Truist Financial boosted their target price on shares of ON Semiconductor from $43.00 to $49.00 and gave the stock a “hold” rating in a report on Tuesday, August 5th. Susquehanna reissued a “positive” rating and issued a $65.00 target price (down previously from $75.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of ON Semiconductor in a report on Wednesday, October 8th. Finally, Stifel Nicolaus upped their price target on shares of ON Semiconductor from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ON Semiconductor presently has an average rating of “Hold” and an average price target of $56.96.

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.