ON Semiconductor Corporation (NASDAQ:ON) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 18,972,934 shares, a drop of 7.1% from the November 15th total of 20,432,010 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily volume of 5,249,354 shares, the days-to-cover ratio is currently 3.6 days.

In related news, Director Daryl Ostrander sold 1,398 shares of ON Semiconductor stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $19.10, for a total transaction of $26,701.80. Following the sale, the director now directly owns 64,060 shares in the company, valued at approximately $1,223,546. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith D. Jackson sold 476,191 shares of ON Semiconductor stock in a transaction on Monday, October 16th. The stock was sold at an average price of $19.59, for a total transaction of $9,328,581.69. Following the sale, the chief executive officer now owns 3,649,468 shares in the company, valued at $71,493,078.12. The disclosure for this sale can be found here. Insiders sold a total of 734,526 shares of company stock worth $14,597,833 over the last 90 days. Company insiders own 1.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas grew its position in ON Semiconductor by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 33,379 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 127 shares during the last quarter. Numeric Investors LLC boosted its holdings in shares of ON Semiconductor by 0.3% in the second quarter. Numeric Investors LLC now owns 89,300 shares of the semiconductor company’s stock valued at $1,254,000 after acquiring an additional 300 shares in the last quarter. Krilogy Financial LLC boosted its holdings in shares of ON Semiconductor by 2.8% in the second quarter. Krilogy Financial LLC now owns 16,400 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 450 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of ON Semiconductor by 2.3% in the second quarter. Hillsdale Investment Management Inc. now owns 21,170 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 470 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of ON Semiconductor by 3.6% in the second quarter. Comerica Bank now owns 20,871 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 720 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

ON Semiconductor (NASDAQ ON) opened at $20.80 on Wednesday. ON Semiconductor has a 52-week low of $12.37 and a 52-week high of $22.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.97. The stock has a market cap of $8,440.83, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 0.75 and a beta of 2.02.

Several equities research analysts recently commented on ON shares. Robert W. Baird reiterated a “buy” rating and set a $20.00 price target on shares of ON Semiconductor in a research note on Thursday, August 24th. BidaskClub upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of ON Semiconductor in a research note on Monday, September 11th. Jefferies Group reiterated a “hold” rating and set a $16.00 price target on shares of ON Semiconductor in a research note on Tuesday, September 12th. Finally, Goldman Sachs Group lowered shares of ON Semiconductor from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $21.37.

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ON Semiconductor 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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