Goldman Sachs Group Inc. lowered its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,954,806 shares of the semiconductor company’s stock after selling 650,963 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.70% of ON Semiconductor worth $61,874,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in ON Semiconductor in the fourth quarter worth $101,000. Fuller & Thaler Asset Management Inc. acquired a new position in ON Semiconductor in the fourth quarter worth $174,000. BB&T Securities LLC acquired a new position in ON Semiconductor in the third quarter worth $187,000. Cambridge Investment Research Advisors Inc. acquired a new position in ON Semiconductor in the third quarter worth $200,000. Finally, American International Group Inc. acquired a new position in ON Semiconductor in the fourth quarter worth $206,000. 97.13% of the stock is owned by institutional investors and hedge funds.
In related news, EVP George H. Cave sold 3,000 shares of ON Semiconductor stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $22.85, for a total transaction of $68,550.00. Following the sale, the executive vice president now directly owns 394,570 shares in the company, valued at $9,015,924.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William Hall sold 22,583 shares of ON Semiconductor stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.86, for a total transaction of $538,830.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,282 shares of company stock worth $3,247,913. Company insiders own 1.60% of the company’s stock.
Shares of ON Semiconductor Corp (NASDAQ:ON) opened at $25.87 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.08 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $10,959.35, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. ON Semiconductor Corp has a one year low of $13.65 and a one year high of $27.10.
ON Semiconductor (NASDAQ:ON) last posted its earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. ON Semiconductor had a return on equity of 21.88% and a net margin of 14.63%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. equities research analysts anticipate that ON Semiconductor Corp will post 1.73 EPS for the current fiscal year.
ON has been the subject of a number of research reports. ValuEngine downgraded shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of ON Semiconductor in a report on Monday, December 11th. Morgan Stanley lifted their price objective on shares of ON Semiconductor from $18.50 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. Piper Jaffray Companies initiated coverage on shares of ON Semiconductor in a report on Monday, December 18th. They issued a “neutral” rating and a $21.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of ON Semiconductor in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.09.
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ON Semiconductor 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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