Capital Group International Inc. CA Has $13.60 Million Stake in ON Semiconductor Corp (NASDAQ:ON)

Capital Group International Inc. CA lowered its stake in shares of ON Semiconductor Corp (NASDAQ:ONGet Rating) by 29.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 217,198 shares of the semiconductor company’s stock after selling 90,124 shares during the period. Capital Group International Inc. CA’s holdings in ON Semiconductor were worth $13,599,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wahed Invest LLC bought a new stake in ON Semiconductor during the first quarter worth about $312,000. Wealthfront Advisers LLC grew its stake in shares of ON Semiconductor by 45.7% during the first quarter. Wealthfront Advisers LLC now owns 38,616 shares of the semiconductor company’s stock valued at $2,418,000 after purchasing an additional 12,117 shares during the last quarter. Weiss Multi Strategy Advisers LLC grew its stake in shares of ON Semiconductor by 7.2% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 74,652 shares of the semiconductor company’s stock valued at $4,674,000 after purchasing an additional 4,991 shares during the last quarter. Virtu Financial LLC grew its stake in shares of ON Semiconductor by 224.9% during the first quarter. Virtu Financial LLC now owns 47,306 shares of the semiconductor company’s stock valued at $2,962,000 after purchasing an additional 32,746 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of ON Semiconductor during the first quarter valued at approximately $254,000. Institutional investors and hedge funds own 99.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ON shares. Stifel Nicolaus increased their price objective on shares of ON Semiconductor from $60.00 to $68.00 and gave the company a “hold” rating in a report on Monday, August 15th. The Goldman Sachs Group increased their price objective on shares of ON Semiconductor from $60.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Jefferies Financial Group increased their price objective on shares of ON Semiconductor from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Susquehanna increased their target price on shares of ON Semiconductor from $77.00 to $82.00 and gave the stock a “positive” rating in a report on Tuesday, August 2nd. Finally, Mizuho increased their target price on shares of ON Semiconductor from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ON Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.30.

Insider Activity at ON Semiconductor

In other ON Semiconductor news, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the sale, the chief executive officer now directly owns 261,162 shares of the company’s stock, valued at approximately $14,669,469.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the transaction, the chief executive officer now owns 261,162 shares in the company, valued at approximately $14,669,469.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Simon Keeton sold 4,550 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $75.00, for a total transaction of $341,250.00. Following the transaction, the executive vice president now owns 162,791 shares in the company, valued at approximately $12,209,325. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,363 shares of company stock valued at $1,661,560. 0.40% of the stock is owned by insiders.

ON Semiconductor Price Performance

Shares of NASDAQ:ON opened at $68.57 on Thursday. The firm has a 50 day moving average of $65.14 and a 200-day moving average of $59.59. The stock has a market capitalization of $29.71 billion, a PE ratio of 17.76, a PEG ratio of 0.54 and a beta of 1.80. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.56. ON Semiconductor Corp has a 12 month low of $41.88 and a 12 month high of $76.78.

ON Semiconductor (NASDAQ:ONGet Rating) last announced its quarterly earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, equities research analysts predict that ON Semiconductor Corp will post 5.15 EPS for the current fiscal year.

About ON Semiconductor

(Get Rating)

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.

Further Reading

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

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