First Trust Advisors LP Buys 1,255,892 Shares of ON Semiconductor Corp (ON)
First Trust Advisors LP increased its stake in ON Semiconductor Corp (NASDAQ:ON) by 98.1% in the 4th quarter, HoldingsChannel reports. The fund owned 2,536,396 shares of the semiconductor company’s stock after acquiring an additional 1,255,892 shares during the period. First Trust Advisors LP’s holdings in ON Semiconductor were worth $53,112,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in ON Semiconductor by 6.0% in the third quarter. Janus Henderson Group PLC now owns 34,605,410 shares of the semiconductor company’s stock worth $639,162,000 after acquiring an additional 1,949,089 shares in the last quarter. Capital International Investors grew its position in ON Semiconductor by 1.9% in the third quarter. Capital International Investors now owns 24,062,785 shares of the semiconductor company’s stock worth $444,440,000 after acquiring an additional 439,448 shares in the last quarter. Pictet Asset Management Ltd. grew its position in ON Semiconductor by 16.8% in the third quarter. Pictet Asset Management Ltd. now owns 8,576,929 shares of the semiconductor company’s stock worth $158,416,000 after acquiring an additional 1,234,603 shares in the last quarter. LSV Asset Management boosted its position in shares of ON Semiconductor by 63.1% during the fourth quarter. LSV Asset Management now owns 7,255,728 shares of the semiconductor company’s stock valued at $151,934,000 after buying an additional 2,806,816 shares during the period. Finally, TCW Group Inc. boosted its position in shares of ON Semiconductor by 22.8% during the third quarter. TCW Group Inc. now owns 5,057,099 shares of the semiconductor company’s stock valued at $93,405,000 after buying an additional 938,018 shares during the period. Institutional investors own 99.81% of the company’s stock.
ON has been the subject of several recent analyst reports. Citigroup set a $23.50 target price on ON Semiconductor and gave the company a “buy” rating in a research report on Tuesday, October 24th. KeyCorp restated a “hold” rating on shares of ON Semiconductor in a research report on Friday, October 27th. Mizuho restated a “buy” rating and set a $24.00 target price (up previously from $19.00) on shares of ON Semiconductor in a research report on Monday, November 6th. Summit Redstone lowered ON Semiconductor to a “hold” rating in a research report on Monday, November 6th. Finally, Loop Capital boosted their target price on ON Semiconductor from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.99.
Shares of ON Semiconductor Corp (NASDAQ:ON) opened at $22.54 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $9,670.90, a P/E ratio of 19.66, a P/E/G ratio of 1.08 and a beta of 2.08. ON Semiconductor Corp has a twelve month low of $13.65 and a twelve month high of $25.60.
ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results 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. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. ON Semiconductor had a return on equity of 23.64% and a net margin of 14.63%. ON Semiconductor’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. research analysts expect that ON Semiconductor Corp will post 1.73 EPS for the current fiscal year.
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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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