ON Semiconductor Corp (ON) Short Interest Up 15.8% in May
ON Semiconductor Corp (NASDAQ:ON) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 17,773,233 shares, a growth of 15.8% from the April 28th total of 15,342,112 shares. Based on an average daily volume of 5,855,920 shares, the short-interest ratio is currently 3.0 days. Approximately 4.3% of the shares of the company are short sold.
ON has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of ON Semiconductor Corp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Tuesday, May 9th. Mizuho upped their price target on shares of ON Semiconductor Corp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, March 13th. Needham & Company LLC upped their price target on shares of ON Semiconductor Corp from $16.00 to $20.00 and gave the company a “buy” rating in a report on Monday, February 13th. Loop Capital reiterated a “buy” rating and set a $17.00 price target on shares of ON Semiconductor Corp in a report on Wednesday, February 15th. Finally, Vetr upgraded shares of ON Semiconductor Corp from a “sell” rating to a “buy” rating and set a $15.50 price target for the company in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. ON Semiconductor Corp currently has an average rating of “Buy” and an average price target of $15.71.
Shares of ON Semiconductor Corp (NASDAQ:ON) opened at 15.50 on Friday. The firm has a market cap of $6.52 billion, a P/E ratio of 29.81 and a beta of 1.96. The company’s 50 day moving average price is $14.75 and its 200-day moving average price is $13.89. ON Semiconductor Corp has a 12-month low of $8.11 and a 12-month high of $16.08.
In related news, insider Bernard Raymond Colpitts, Jr. sold 6,100 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $15.59, for a total transaction of $95,099.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert A. Klosterboer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $14.04, for a total transaction of $140,400.00. Following the transaction, the executive vice president now directly owns 334,320 shares of the company’s stock, valued at approximately $4,693,852.80. The disclosure for this sale can be found here. Insiders sold 78,878 shares of company stock valued at $1,197,861 in the last quarter. Corporate insiders own 1.60% of the company’s stock.
Several large investors have recently made changes to their positions in ON. Segantii Capital Management Ltd acquired a new position in ON Semiconductor Corp during the first quarter valued at approximately $101,000. Israel Discount Bank of New York bought a new position in ON Semiconductor Corp during the first quarter worth $102,000. Oppenheimer Asset Management Inc. bought a new position in ON Semiconductor Corp during the first quarter worth $110,000. FTB Advisors Inc. increased its position in ON Semiconductor Corp by 499.9% in the first quarter. FTB Advisors Inc. now owns 10,306 shares of the semiconductor company’s stock worth $148,000 after buying an additional 8,588 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in ON Semiconductor Corp by 2,234.7% in the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock worth $156,000 after buying an additional 9,609 shares during the period.
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ON Semiconductor Corp Company Profile
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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