Envestnet Asset Management Inc. Reduces Stake in ON Semiconductor Corporation $ON

Envestnet Asset Management Inc. reduced its position in shares of ON Semiconductor Corporation (NASDAQ:ON) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 347,560 shares of the semiconductor company’s stock after selling 25,868 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of ON Semiconductor worth $18,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Costello Asset Management INC purchased a new position in shares of ON Semiconductor in the first quarter worth approximately $26,000. Trust Co. of Toledo NA OH purchased a new stake in ON Semiconductor during the second quarter valued at approximately $29,000. Geneos Wealth Management Inc. raised its position in 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 acquiring an additional 507 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of ON Semiconductor during the 2nd quarter worth $57,000. Finally, Covestor Ltd boosted its stake in shares of ON Semiconductor by 70.1% during the 1st quarter. Covestor Ltd now owns 1,514 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In other ON Semiconductor news, CEO Hassane El-Khoury sold 15,000 shares of the 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. This represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company cut their price target on ON Semiconductor from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. Cowen reissued a “buy” rating on shares of ON Semiconductor in a report on Tuesday. The Goldman Sachs Group assumed coverage on shares of ON Semiconductor in a research note on Thursday, July 10th. They set a “neutral” rating and a $60.00 target price on the stock. Susquehanna reiterated a “positive” rating and issued a $65.00 price target (down from $75.00) on shares of ON Semiconductor in a research report on Tuesday, August 5th. Finally, B. Riley reissued a “neutral” rating on shares of ON Semiconductor in a research note on Tuesday, August 5th. Fourteen 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, ON Semiconductor has an average rating of “Hold” and an average price target of $59.08.

ON Semiconductor Stock Up 3.7%

NASDAQ ON opened at $50.08 on Thursday. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $74.52. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 46.80, a PEG ratio of 2.58 and a beta of 1.49. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $50.12 and a two-hundred day moving average of $49.75.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $1.55 billion during 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 quarterly revenue was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. On average, analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

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.