State Board of Administration of Florida Retirement System increased its stake in ON Semiconductor Corporation (NASDAQ:ON) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 783,224 shares of the semiconductor company’s stock after buying an additional 10,400 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.19% of ON Semiconductor Corporation worth $10,996,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Segantii Capital Management Ltd acquired a new position in ON Semiconductor Corporation during the first quarter valued at approximately $101,000. Israel Discount Bank of New York acquired a new position in ON Semiconductor Corporation during the first quarter valued at approximately $102,000. Oppenheimer Asset Management Inc. acquired a new position in ON Semiconductor Corporation during the first quarter valued at approximately $110,000. Tower Research Capital LLC TRC raised its position in ON Semiconductor Corporation by 2,234.7% in the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 9,609 shares during the last quarter. Finally, Nine Chapters Capital Management LLC acquired a new position in ON Semiconductor Corporation during the second quarter valued at approximately $157,000. Institutional investors and hedge funds own 98.06% of the company’s stock.

Shares of ON Semiconductor Corporation (NASDAQ:ON) opened at 17.06 on Thursday. ON Semiconductor Corporation has a 52-week low of $10.08 and a 52-week high of $17.13. The stock’s 50 day moving average is $15.51 and its 200-day moving average is $15.16. The firm has a market cap of $7.19 billion, a P/E ratio of 25.13 and a beta of 1.97.

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ON has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of ON Semiconductor Corporation from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Zacks Investment Research upgraded shares of ON Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, May 9th. Credit Suisse Group restated a “sell” rating and issued a $14.00 price target on shares of ON Semiconductor Corporation in a report on Wednesday, May 10th. BidaskClub upgraded shares of ON Semiconductor Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, Raymond James Financial, Inc. initiated coverage on shares of ON Semiconductor Corporation in a report on Friday, June 16th. They issued an “outperform” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.07.

In related news, EVP George H. Cave sold 15,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $16.09, for a total transaction of $241,350.00. Following the sale, the executive vice president now owns 252,158 shares in the company, valued at approximately $4,057,222.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Raymond Colpitts, Jr. sold 2,490 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $16.31, for a total value of $40,611.90. Following the sale, the insider now owns 24,591 shares in the company, valued at approximately $401,079.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,716 shares of company stock worth $958,684. Corporate insiders own 1.60% of the company’s stock.

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

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