ON Semiconductor Corporation (NASDAQ:ON) Stake Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its holdings in shares of ON Semiconductor Corporation (NASDAQ:ON) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,026 shares of the semiconductor company’s stock after purchasing an additional 463 shares during the period. Avantax Advisory Services Inc.’s holdings in ON Semiconductor were worth $408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in ON Semiconductor by 26.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company’s stock worth $203,462,000 after purchasing an additional 1,055,461 shares during the period. Janus Henderson Group PLC boosted its stake in ON Semiconductor by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after purchasing an additional 1,041,989 shares during the period. Freestone Grove Partners LP acquired a new position in ON Semiconductor in the 4th quarter worth approximately $62,426,000. Dimensional Fund Advisors LP boosted its stake in ON Semiconductor by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after purchasing an additional 771,610 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in ON Semiconductor by 226.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 888,364 shares of the semiconductor company’s stock worth $36,148,000 after purchasing an additional 615,825 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

ON Semiconductor Stock Performance

NASDAQ:ON opened at $46.98 on Thursday. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $78.61. The firm’s fifty day simple moving average is $54.13 and its 200 day simple moving average is $47.70. The company has a current ratio of 5.02, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $19.21 billion, a PE ratio of 43.91, a PEG ratio of 3.89 and a beta of 1.45.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $0.96 earnings per share. ON Semiconductor’s revenue for the quarter was down 15.4% on a year-over-year basis. On average, sell-side analysts anticipate that ON Semiconductor Corporation will post 2.6 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ON. Wells Fargo & Company cut their target price on shares of ON Semiconductor from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup dropped their price target on shares of ON Semiconductor from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group dropped their price target on shares of ON Semiconductor from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday. Bank of America restated a “neutral” rating and set a $56.00 price target (down previously from $70.00) on shares of ON Semiconductor in a research note on Tuesday. Finally, Susquehanna restated a “positive” rating and set a $65.00 price target (down previously from $75.00) on shares of ON Semiconductor in a research note on Tuesday. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.84.

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.