Insider Selling: ON Semiconductor Corporation (ON) EVP Sells $66,132.18 in Stock
ON Semiconductor Corporation (NASDAQ:ON) EVP George H. Cave sold 3,567 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $18.54, for a total value of $66,132.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ON Semiconductor Corporation (ON) opened at 19.23 on Friday. ON Semiconductor Corporation has a 1-year low of $10.74 and a 1-year high of $19.33. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 28.32 and a beta of 2.01. The company has a 50-day moving average price of $17.29 and a 200 day moving average price of $15.66.
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A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Janus Henderson Group PLC purchased a new position in shares of ON Semiconductor Corporation in the 2nd quarter worth about $458,495,000. FMR LLC boosted its holdings in shares of ON Semiconductor Corporation by 58.7% in the 2nd quarter. FMR LLC now owns 40,082,107 shares of the semiconductor company’s stock worth $562,753,000 after purchasing an additional 14,818,360 shares in the last quarter. Coatue Management LLC purchased a new position in shares of ON Semiconductor Corporation in the 2nd quarter worth about $68,740,000. LSV Asset Management boosted its holdings in shares of ON Semiconductor Corporation by 2,285.0% in the 2nd quarter. LSV Asset Management now owns 2,761,800 shares of the semiconductor company’s stock worth $38,775,000 after purchasing an additional 2,646,000 shares in the last quarter. Finally, Rothschild Asset Management Inc. purchased a new position in shares of ON Semiconductor Corporation in the 2nd quarter worth about $34,313,000. Institutional investors and hedge funds own 98.07% of the company’s stock.
A number of research firms recently weighed in on ON. B. Riley restated a “buy” rating and issued a $21.00 price target on shares of ON Semiconductor Corporation in a research note on Sunday, August 13th. Morgan Stanley increased their price target on ON Semiconductor Corporation from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. J P Morgan Chase & Co restated a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of ON Semiconductor Corporation in a research note on Wednesday, August 9th. Mizuho restated an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of ON Semiconductor Corporation in a research note on Wednesday, August 9th. Finally, BidaskClub upgraded ON Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.55.
About ON Semiconductor Corporation
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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