ON Semiconductor Corp. (ON) Sees Large Growth in Short Interest
ON Semiconductor Corp. (NASDAQ:ON) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 16,655,410 shares, a growth of 25.4% from the September 15th total of 13,277,211 shares. Approximately 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 7,560,198 shares, the short-interest ratio is currently 2.2 days.
In other ON Semiconductor Corp. news, VP Paul E. Rolls sold 15,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $11.25, for a total value of $168,750.00. Following the sale, the vice president now directly owns 277,202 shares of the company’s stock, valued at $3,118,522.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul E. Rolls sold 3,507 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $12.50, for a total value of $43,837.50. Following the completion of the sale, the vice president now directly owns 265,345 shares in the company, valued at $3,316,812.50. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in ON Semiconductor Corp. by 269.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,330 shares of the company’s stock worth $103,000 after buying an additional 6,076 shares in the last quarter. Acrospire Investment Management LLC increased its stake in ON Semiconductor Corp. by 36.0% in the second quarter. Acrospire Investment Management LLC now owns 11,700 shares of the company’s stock worth $103,000 after buying an additional 3,100 shares in the last quarter. American International Group Inc. increased its stake in ON Semiconductor Corp. by 14.3% in the second quarter. American International Group Inc. now owns 13,435 shares of the company’s stock worth $118,000 after buying an additional 1,682 shares in the last quarter. Boothbay Fund Management LLC increased its stake in ON Semiconductor Corp. by 19.8% in the first quarter. Boothbay Fund Management LLC now owns 14,630 shares of the company’s stock worth $140,000 after buying an additional 2,420 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in ON Semiconductor Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 14,642 shares of the company’s stock worth $129,000 after buying an additional 356 shares in the last quarter. Institutional investors own 94.67% of the company’s stock.
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Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.65 on Thursday. The stock’s 50 day moving average price is $11.40 and its 200-day moving average price is $10.05. The stock has a market capitalization of $4.84 billion, a P/E ratio of 29.87 and a beta of 1.76. ON Semiconductor Corp. has a 1-year low of $6.97 and a 1-year high of $12.69.
ON Semiconductor Corp. (NASDAQ:ON) last released its earnings results on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company earned $877.80 million during the quarter, compared to the consensus estimate of $854.55 million. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities research analysts anticipate that ON Semiconductor Corp. will post $0.85 EPS for the current fiscal year.
Several equities research analysts have weighed in on ON shares. Stephens raised ON Semiconductor Corp. from an “equal weight” rating to an “overweight” rating in a research report on Monday, October 3rd. JPMorgan Chase & Co. reissued a “hold” rating and set a $13.50 price target on shares of ON Semiconductor Corp. in a report on Tuesday, September 20th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of ON Semiconductor Corp. in a report on Friday, September 16th. Vetr lowered ON Semiconductor Corp. from a “buy” rating to a “hold” rating and set a $11.91 price target on the stock. in a report on Monday, October 3rd. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $15.00 price target on shares of ON Semiconductor Corp. in a report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $13.67.
ON Semiconductor Corp. Company Profile
ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.
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