Karp Capital Management Corp bought a new position in ON Semiconductor Corporation (NASDAQ:ON) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,142 shares of the semiconductor company’s stock, valued at approximately $730,000.

A number of other institutional investors have also recently made changes to their positions in the company. World Asset Management Inc increased its position in shares of ON Semiconductor Corporation by 5.3% in the first quarter. World Asset Management Inc now owns 15,414 shares of the semiconductor company’s stock worth $239,000 after buying an additional 775 shares in the last quarter. Swiss National Bank increased its position in shares of ON Semiconductor Corporation by 1.0% in the first quarter. Swiss National Bank now owns 689,700 shares of the semiconductor company’s stock worth $10,683,000 after buying an additional 6,600 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of ON Semiconductor Corporation by 10.4% in the first quarter. Pictet Asset Management Ltd. now owns 7,376,170 shares of the semiconductor company’s stock worth $114,257,000 after buying an additional 694,382 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of ON Semiconductor Corporation by 687.7% in the first quarter. BNP Paribas Arbitrage SA now owns 56,832 shares of the semiconductor company’s stock worth $880,000 after buying an additional 49,617 shares in the last quarter. Finally, Princeton Alpha Management LP purchased a new position in shares of ON Semiconductor Corporation during the first quarter worth $657,000. 96.27% of the stock is owned by institutional investors and hedge funds.

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

Shares of ON Semiconductor Corporation (NASDAQ ON) opened at 15.38 on Friday. The stock’s 50 day moving average is $15.28 and its 200 day moving average is $14.35. ON Semiconductor Corporation has a 52-week low of $8.11 and a 52-week high of $16.93. The company has a market capitalization of $6.47 billion, a P/E ratio of 29.58 and a beta of 1.94.

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A number of brokerages recently weighed in on ON. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of ON Semiconductor Corporation in a research note on Saturday. Raymond James Financial, Inc. initiated coverage on shares of ON Semiconductor Corporation in a research note on Friday. They set an “outperform” rating and a $19.00 target price for the company. Zacks Investment Research downgraded shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Credit Suisse Group reaffirmed a “sell” rating and issued a $14.00 price target on shares of ON Semiconductor Corporation in a research note on Wednesday, May 10th. Finally, Stifel Nicolaus lifted their price target on shares of ON Semiconductor Corporation from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. ON Semiconductor Corporation has a consensus rating of “Buy” and a consensus target price of $16.40.

In other news, VP Paul E. Rolls sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the sale, the vice president now owns 270,101 shares of the company’s stock, valued at approximately $4,321,616. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Hall sold 41,364 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $15.30, for a total transaction of $632,869.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,690 shares of company stock valued at $1,940,440. 1.60% of the stock is owned by company insiders.

ON Semiconductor Corporation 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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