Kentucky Retirement Systems Sells 429 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Kentucky Retirement Systems cut its stake in shares of ON Semiconductor Corporation (NASDAQ:ONFree Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,007 shares of the semiconductor company’s stock after selling 429 shares during the quarter. Kentucky Retirement Systems’ holdings in ON Semiconductor were worth $1,180,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in ON Semiconductor by 9.0% in the 4th quarter. D.A. Davidson & CO. now owns 7,698 shares of the semiconductor company’s stock worth $485,000 after purchasing an additional 637 shares in the last quarter. IFP Advisors Inc lifted its holdings in ON Semiconductor by 9.5% in the 4th quarter. IFP Advisors Inc now owns 7,814 shares of the semiconductor company’s stock worth $493,000 after purchasing an additional 675 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in ON Semiconductor by 6.7% in the 4th quarter. Sentry Investment Management LLC now owns 7,655 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 478 shares in the last quarter. Todd Asset Management LLC lifted its holdings in ON Semiconductor by 1.1% in the 4th quarter. Todd Asset Management LLC now owns 464,187 shares of the semiconductor company’s stock worth $29,267,000 after purchasing an additional 5,202 shares in the last quarter. Finally, GraniteShares Advisors LLC purchased a new position in ON Semiconductor in the 4th quarter worth approximately $516,000. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Mizuho increased their target price on ON Semiconductor from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, June 18th. Citigroup lowered their target price on ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Roth Capital reiterated a “buy” rating and set a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. Robert W. Baird lowered their target price on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Finally, KGI Securities assumed coverage on ON Semiconductor in a research report on Friday, May 23rd. They set a “neutral” rating for the company. Thirteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.62.

Read Our Latest Report on ON

ON Semiconductor Stock Up 2.0%

ON Semiconductor stock opened at $54.21 on Wednesday. The stock has a market capitalization of $22.65 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 4.34 and a beta of 1.39. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $80.08. The business has a 50 day simple moving average of $44.25 and a 200-day simple moving average of $49.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32.

ON Semiconductor (NASDAQ:ONGet Free Report) last posted its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business’s revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. On average, analysts anticipate that ON Semiconductor Corporation will post 2.6 EPS for the current fiscal year.

ON Semiconductor Company Profile

(Free Report)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

See Also

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Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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