Summit X LLC Has $256,000 Holdings in ON Semiconductor Corporation $ON

Summit X LLC lowered its holdings in ON Semiconductor Corporation (NASDAQ:ON) by 52.4% in the second quarter, HoldingsChannel.com reports. The firm owned 4,887 shares of the semiconductor company’s stock after selling 5,385 shares during the quarter. Summit X LLC’s holdings in ON Semiconductor were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ON. Baillie Gifford & Co. acquired a new position in ON Semiconductor in the first quarter valued at $219,001,000. Pacer Advisors Inc. increased its holdings in ON Semiconductor by 2,735.5% during the 1st quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company’s stock worth $87,330,000 after acquiring an additional 2,070,529 shares during the period. Nuveen LLC purchased a new stake in ON Semiconductor in the first quarter valued at approximately $38,548,000. Allspring Global Investments Holdings LLC boosted its stake in ON Semiconductor by 15.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,835,332 shares of the semiconductor company’s stock worth $312,774,000 after buying an additional 774,087 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in ON Semiconductor by 94.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,502,700 shares of the semiconductor company’s stock worth $61,145,000 after purchasing an additional 728,177 shares during the period. 97.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ON shares. Morgan Stanley upped their target price on shares of ON Semiconductor from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. UBS Group boosted their price objective on ON Semiconductor from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Stifel Nicolaus boosted their price target on shares of ON Semiconductor from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, July 18th. Citigroup decreased their price objective on ON Semiconductor from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, ON Semiconductor has a consensus rating of “Hold” and an average target price of $59.08.

Insider Buying and Selling at ON Semiconductor

In other 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 transaction of $768,300.00. Following the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

ON Semiconductor Price Performance

ON stock opened at $47.83 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37. The firm has a market capitalization of $19.25 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.56. The business has a 50 day simple moving average of $50.04 and a 200-day simple moving average of $50.03. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $74.52.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.ON Semiconductor’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. Equities research analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

ON Semiconductor 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.