Daiwa Securities Group Inc. Reduces Stock Position in ON Semiconductor Corp (NASDAQ:ON)

Daiwa Securities Group Inc. cut its stake in ON Semiconductor Corp (NASDAQ:ON) by 28.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,371 shares of the semiconductor company’s stock after selling 66,584 shares during the period. Daiwa Securities Group Inc.’s holdings in ON Semiconductor were worth $3,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of ON. Oakworth Capital Inc. purchased a new position in ON Semiconductor in the second quarter worth approximately $28,000. Steward Partners Investment Advisory LLC grew its position in ON Semiconductor by 76.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,894 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 818 shares during the period. Stonebridge Capital Advisors LLC purchased a new position in ON Semiconductor in the second quarter worth approximately $71,000. Redhawk Wealth Advisors Inc. purchased a new position in ON Semiconductor in the second quarter worth approximately $77,000. Finally, Stephens Inc. AR grew its position in ON Semiconductor by 11.2% in the second quarter. Stephens Inc. AR now owns 4,983 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

Several research analysts recently weighed in on the company. BNP Paribas assumed coverage on ON Semiconductor in a research report on Friday, August 30th. They issued an “outperform” rating for the company. Benchmark assumed coverage on ON Semiconductor in a research report on Friday, September 20th. They issued a “buy” rating and a $26.00 price objective for the company. TheStreet lowered ON Semiconductor from a “b” rating to a “c+” rating in a research report on Monday, October 28th. Citigroup increased their price objective on ON Semiconductor from $21.00 to $24.50 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Raymond James upgraded ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. ON Semiconductor has a consensus rating of “Buy” and an average price target of $25.27.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In other ON Semiconductor news, EVP Simon Keeton sold 8,812 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.02, for a total transaction of $176,416.24. Following the transaction, the executive vice president now owns 119,101 shares of the company’s stock, valued at $2,384,402.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO William A. Schromm sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the transaction, the chief operating officer now directly owns 726,413 shares in the company, valued at approximately $14,891,466.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,535 shares of company stock worth $1,737,379. 1.40% of the stock is owned by insiders.

NASDAQ:ON opened at $21.63 on Friday. ON Semiconductor Corp has a 52 week low of $15.06 and a 52 week high of $23.54. The company has a quick ratio of 0.92, a current ratio of 1.54 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.44 and a beta of 2.21. The stock’s fifty day moving average is $19.40 and its two-hundred day moving average is $19.54.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Sunday, October 27th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). ON Semiconductor had a net margin of 5.71% and a return on equity of 21.95%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts expect that ON Semiconductor Corp will post 1.51 EPS for the current fiscal year.

ON Semiconductor Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

Further Reading: What is systematic risk?

Want to see what other hedge funds are holding ON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ON Semiconductor Corp (NASDAQ:ON).

Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

Leave a Reply

Your email address will not be published. Required fields are marked *

*