Teachers Retirement System of The State of Kentucky reduced its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 19.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,666,339 shares of the semiconductor company’s stock after selling 406,400 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.39% of ON Semiconductor worth $34,893,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ON. Harel Insurance Investments & Financial Services Ltd. purchased a new position in ON Semiconductor in the 4th quarter worth $101,000. Fuller & Thaler Asset Management Inc. purchased a new position in ON Semiconductor in the 4th quarter worth $174,000. BB&T Securities LLC purchased a new position in ON Semiconductor in the 3rd quarter worth $187,000. Cambridge Investment Research Advisors Inc. purchased a new position in ON Semiconductor in the 3rd quarter worth $200,000. Finally, Premia Global Advisors LLC purchased a new position in ON Semiconductor in the 4th quarter worth $200,000. 97.13% of the stock is owned by institutional investors.
A number of equities analysts recently commented on ON shares. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of ON Semiconductor in a research report on Tuesday, December 19th. Vetr upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $26.75 target price on the stock in a research report on Monday, January 22nd. BidaskClub cut shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. ValuEngine cut shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research cut shares of ON Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $24.09.
ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. ON Semiconductor had a net margin of 14.63% and a return on equity of 21.88%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. equities research analysts expect that ON Semiconductor Corp will post 1.73 EPS for the current fiscal year.
In other news, EVP William Hall sold 22,583 shares of ON Semiconductor stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.86, for a total transaction of $538,830.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul E. Rolls sold 16,899 shares of ON Semiconductor stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $21.03, for a total transaction of $355,385.97. Following the sale, the vice president now directly owns 305,807 shares in the company, valued at approximately $6,431,121.21. The disclosure for this sale can be found here. Insiders sold 115,195 shares of company stock worth $2,675,075 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
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ON Semiconductor 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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