ON Semiconductor Corporation (NASDAQ:ON) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 18,972,934 shares, a drop of 7.1% from the November 15th total of 20,432,010 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily volume of 5,249,354 shares, the days-to-cover ratio is presently 3.6 days.

In other news, EVP George H. Cave sold 19,385 shares of ON Semiconductor stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $18.00, for a total transaction of $348,930.00. Following the completion of the sale, the executive vice president now owns 308,054 shares in the company, valued at approximately $5,544,972. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas sold 9,375 shares of ON Semiconductor stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $18.30, for a total value of $171,562.50. Following the sale, the director now owns 58,379 shares of the company’s stock, valued at approximately $1,068,335.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 734,526 shares of company stock valued at $14,597,833. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ON. Aperio Group LLC lifted its holdings in shares of ON Semiconductor by 6.8% during the second quarter. Aperio Group LLC now owns 50,366 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 3,224 shares in the last quarter. World Asset Management Inc lifted its holdings in shares of ON Semiconductor by 31.8% during the second quarter. World Asset Management Inc now owns 20,312 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 4,898 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of ON Semiconductor by 99.5% during the second quarter. Canada Pension Plan Investment Board now owns 523,100 shares of the semiconductor company’s stock valued at $7,344,000 after purchasing an additional 260,900 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of ON Semiconductor by 34.9% during the second quarter. First Trust Advisors LP now owns 1,615,598 shares of the semiconductor company’s stock valued at $22,683,000 after purchasing an additional 417,891 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of ON Semiconductor by 0.4% during the second quarter. Teacher Retirement System of Texas now owns 33,379 shares of the semiconductor company’s stock valued at $469,000 after purchasing an additional 127 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of ON Semiconductor (NASDAQ:ON) opened at $19.54 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. ON Semiconductor has a 1-year low of $12.36 and a 1-year high of $22.15. The company has a market capitalization of $8,290.00, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02.

A number of analysts recently weighed in on ON shares. Credit Suisse Group boosted their target price on ON Semiconductor from $14.50 to $17.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 7th. Summit Redstone cut ON Semiconductor to a “hold” rating in a research note on Monday, November 6th. BidaskClub cut ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. B. Riley lifted their price target on ON Semiconductor from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Finally, Citigroup set a $23.50 price target on ON Semiconductor and gave the stock a “buy” rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.39.

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About ON Semiconductor

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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