ON Semiconductor Corp (NASDAQ:ON) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 24,330,000 shares, a drop of 10.4% from the January 15th total of 27,140,000 shares. Currently, 6.0% of the company’s shares are sold short. Based on an average daily volume of 5,040,000 shares, the days-to-cover ratio is currently 4.8 days.
A number of equities analysts have recently commented on ON shares. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of ON Semiconductor in a research note on Wednesday, December 18th. TheStreet raised shares of ON Semiconductor from a “c+” rating to a “b-” rating in a research note on Thursday, December 5th. Loop Capital downgraded shares of ON Semiconductor from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Tuesday, February 4th. Mizuho cut their target price on shares of ON Semiconductor from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of ON Semiconductor in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. ON Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $23.44.
ON Semiconductor stock traded down $0.19 during midday trading on Friday, hitting $21.44. 5,628,796 shares of the stock were exchanged, compared to its average volume of 8,336,668. ON Semiconductor has a 1 year low of $16.65 and a 1 year high of $25.92. The firm has a market cap of $8.88 billion, a P/E ratio of 42.88, a P/E/G ratio of 1.93 and a beta of 2.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.54 and a quick ratio of 0.92. The company has a 50 day moving average price of $23.68 and a two-hundred day moving average price of $20.94.
ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Monday, February 3rd. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). ON Semiconductor had a return on equity of 18.85% and a net margin of 3.84%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm earned $0.53 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, analysts predict that ON Semiconductor will post 1.39 EPS for the current year.
In other ON Semiconductor news, Director Gilles Delfassy sold 4,825 shares of ON Semiconductor stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.44, for a total value of $108,273.00. Following the transaction, the director now owns 40,652 shares in the company, valued at approximately $912,230.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Taner Ozcelik sold 141,739 shares of ON Semiconductor stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.00, for a total transaction of $3,543,475.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,914 shares of company stock worth $4,885,471. 1.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ON. Duncker Streett & Co. Inc. acquired a new position in shares of ON Semiconductor in the 4th quarter valued at about $27,000. Orion Portfolio Solutions LLC acquired a new position in shares of ON Semiconductor in the 4th quarter valued at about $28,000. Simon Quick Advisors LLC acquired a new position in shares of ON Semiconductor in the 4th quarter valued at about $32,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of ON Semiconductor by 76.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,894 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 818 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ON Semiconductor by 21.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,707 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 477 shares during the period. 97.27% of the stock is currently owned by hedge funds and other institutional investors.
ON Semiconductor Company Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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