Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of ON Semiconductor Corp (NASDAQ:ON) by 14.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 696,355 shares of the semiconductor company’s stock after acquiring an additional 86,500 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in ON Semiconductor were worth $15,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in ON Semiconductor by 7.5% during the first quarter. Comerica Bank now owns 72,043 shares of the semiconductor company’s stock valued at $1,730,000 after buying an additional 5,040 shares in the last quarter. Swiss National Bank lifted its stake in ON Semiconductor by 3.3% during the first quarter. Swiss National Bank now owns 742,000 shares of the semiconductor company’s stock valued at $18,149,000 after buying an additional 23,900 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in ON Semiconductor by 8.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 3,099,434 shares of the semiconductor company’s stock valued at $75,813,000 after buying an additional 235,231 shares in the last quarter. Aperio Group LLC lifted its stake in ON Semiconductor by 10.1% during the first quarter. Aperio Group LLC now owns 74,557 shares of the semiconductor company’s stock valued at $1,824,000 after buying an additional 6,813 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in ON Semiconductor during the first quarter valued at about $204,000. 92.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. BidaskClub lowered shares of ON Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 8th. Morgan Stanley lowered shares of ON Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $18.50 in a research note on Thursday, August 9th. B. Riley upped their price objective on shares of ON Semiconductor from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of ON Semiconductor in a research report on Monday, July 30th. Finally, Mizuho reissued a “buy” rating and issued a $27.00 price target on shares of ON Semiconductor in a research report on Monday, July 30th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. ON Semiconductor currently has a consensus rating of “Hold” and an average target price of $26.19.

NASDAQ ON opened at $19.51 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $8.20 billion, a PE ratio of 12.42, a P/E/G ratio of 0.79 and a beta of 1.96. ON Semiconductor Corp has a 52-week low of $16.72 and a 52-week high of $27.10.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%. sell-side analysts predict that ON Semiconductor Corp will post 1.84 EPS for the current fiscal year.

In related news, EVP Vince Craig Hopkin sold 3,172 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $21.66, for a total transaction of $68,705.52. Following the transaction, the executive vice president now owns 84,114 shares of the company’s stock, valued at $1,821,909.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $21.44, for a total transaction of $26,028.16. Following the transaction, the insider now directly owns 18,357 shares in the company, valued at approximately $393,574.08. The disclosure for this sale can be found here. Insiders sold 4,394 shares of company stock valued at $94,907 over the last three months. 1.60% of the stock is owned by insiders.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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

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