Covalis Capital LLP Takes Position in ON Semiconductor Corporation $ON

Covalis Capital LLP purchased a new stake in shares of ON Semiconductor Corporation (NASDAQ:ON) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 141,200 shares of the semiconductor company’s stock, valued at approximately $7,400,000.

A number of other institutional investors have also added to or reduced their stakes in ON. Kestra Private Wealth Services LLC boosted its holdings in shares of ON Semiconductor by 15.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 5,377 shares of the semiconductor company’s stock valued at $219,000 after buying an additional 711 shares in the last quarter. Venturi Wealth Management LLC lifted its position in ON Semiconductor by 10.8% during the 1st quarter. Venturi Wealth Management LLC now owns 7,254 shares of the semiconductor company’s stock valued at $295,000 after acquiring an additional 706 shares during the period. Avantax Advisory Services Inc. boosted its stake in ON Semiconductor by 4.8% during the first quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company’s stock worth $408,000 after acquiring an additional 463 shares in the last quarter. Assetmark Inc. boosted its stake in ON Semiconductor by 7.2% during the first quarter. Assetmark Inc. now owns 84,165 shares of the semiconductor company’s stock worth $3,425,000 after acquiring an additional 5,670 shares in the last quarter. Finally, Equitable Trust Co. grew its holdings in ON Semiconductor by 154.4% in the first quarter. Equitable Trust Co. now owns 62,431 shares of the semiconductor company’s stock worth $2,540,000 after purchasing an additional 37,886 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ON shares. Morgan Stanley lifted their target price on shares of ON Semiconductor from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Williams Trading set a $60.00 target price on ON Semiconductor in a report on Tuesday, November 4th. TD Cowen increased their target price on ON Semiconductor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company lowered their price target on ON Semiconductor from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Finally, Cfra reiterated a “buy” rating and issued a $64.00 price target on shares of ON Semiconductor in a research note on Tuesday, November 4th. Fourteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.08.

ON Semiconductor Trading Up 4.0%

Shares of NASDAQ:ON opened at $46.70 on Friday. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $74.52. The stock’s fifty day moving average price is $49.73 and its 200-day moving average price is $50.47. The company has a market cap of $18.79 billion, a P/E ratio of 43.65, a PEG ratio of 2.58 and a beta of 1.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.ON Semiconductor’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. Sell-side analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

ON Semiconductor announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 18th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 32.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

ON Semiconductor Company Profile

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.