Chicago Equity Partners LLC Boosts Stake in ON Semiconductor Corp (ON)

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Chicago Equity Partners LLC grew its holdings in ON Semiconductor Corp (NASDAQ:ON) by 41.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 307,165 shares of the semiconductor company’s stock after purchasing an additional 89,810 shares during the quarter. Chicago Equity Partners LLC’s holdings in ON Semiconductor were worth $5,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ON. Ladenburg Thalmann Financial Services Inc. grew its position in shares of ON Semiconductor by 76.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,576 shares of the semiconductor company’s stock valued at $326,000 after purchasing an additional 5,884 shares in the last quarter. LPL Financial LLC grew its position in shares of ON Semiconductor by 83.4% during the first quarter. LPL Financial LLC now owns 23,319 shares of the semiconductor company’s stock valued at $570,000 after purchasing an additional 10,604 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of ON Semiconductor during the first quarter valued at about $950,000. DnB Asset Management AS purchased a new position in shares of ON Semiconductor during the second quarter valued at about $925,000. Finally, Clinton Group Inc. purchased a new position in shares of ON Semiconductor during the second quarter valued at about $448,000. 90.36% of the stock is owned by institutional investors.

Shares of NASDAQ:ON opened at $17.91 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. ON Semiconductor Corp has a 12 month low of $14.55 and a 12 month high of $27.10. The stock has a market capitalization of $7.62 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.74 and a beta of 2.00.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.51 billion. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. On average, sell-side analysts forecast that ON Semiconductor Corp will post 1.9 earnings per share for the current year.

A number of research analysts have recently weighed in on ON shares. Nomura assumed coverage on ON Semiconductor in a research report on Wednesday, July 18th. They set a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research raised shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, July 24th. Mizuho reaffirmed a “buy” rating and issued a $27.00 price target on shares of ON Semiconductor in a report on Monday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of ON Semiconductor in a report on Monday, July 30th. Finally, B. Riley increased their price target on shares of ON Semiconductor from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $24.70.

In other ON Semiconductor news, EVP Vince Craig Hopkin sold 3,172 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $21.66, for a total value of $68,705.52. Following the completion of the sale, 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 can be accessed through the SEC website. Also, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $21.44, for a total transaction of $26,028.16. Following the completion of the sale, the insider now directly owns 18,357 shares of the company’s stock, valued at approximately $393,574.08. The disclosure for this sale can be found here. In the last three months, insiders sold 39,494 shares of company stock valued at $768,883. 1.29% of the stock is owned by insiders.

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About ON Semiconductor

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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