Two Sigma Investments LP decreased its holdings in shares of ON Semiconductor (NASDAQ:ON) by 98.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,935 shares of the semiconductor company’s stock after selling 941,839 shares during the period. Two Sigma Investments LP’s holdings in ON Semiconductor were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ON. Harel Insurance Investments & Financial Services Ltd. purchased a new position in ON Semiconductor in the 4th quarter valued at $101,000. Fuller & Thaler Asset Management Inc. purchased a new position in ON Semiconductor in the 4th quarter valued at $174,000. Premia Global Advisors LLC purchased a new position in ON Semiconductor in the 4th quarter valued at $200,000. American International Group Inc. purchased a new position in ON Semiconductor in the 4th quarter valued at $206,000. Finally, Ifrah Financial Services Inc. purchased a new position in ON Semiconductor in the 4th quarter valued at $208,000. Hedge funds and other institutional investors own 97.17% of the company’s stock.
In related news, EVP Robert A. Klosterboer sold 18,713 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $23.21, for a total transaction of $434,328.73. Following the completion of the transaction, the executive vice president now directly owns 375,857 shares in the company, valued at approximately $8,723,640.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard Raymond Colpitts, Jr. sold 5,838 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $26.09, for a total value of $152,313.42. Following the transaction, the insider now owns 17,803 shares of the company’s stock, valued at $464,480.27. The disclosure for this sale can be found here. Insiders have sold a total of 252,400 shares of company stock valued at $6,384,941 over the last three months. Corporate insiders own 1.40% of the company’s stock.
ON has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of ON Semiconductor in a report on Tuesday, December 19th. BidaskClub lowered ON Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Zacks Investment Research lowered ON Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, April 9th. Vetr upgraded ON Semiconductor from a “hold” rating to a “buy” rating and set a $26.75 price objective on the stock in a report on Monday, January 22nd. Finally, ValuEngine raised ON Semiconductor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. ON Semiconductor presently has a consensus rating of “Buy” and an average target price of $24.09.
Shares of NASDAQ:ON opened at $25.74 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.31. The stock has a market cap of $10,690.76, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.99. ON Semiconductor has a 12-month low of $13.65 and a 12-month high of $27.10.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.35 billion. ON Semiconductor had a return on equity of 21.88% and a net margin of 14.63%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. sell-side analysts forecast that ON Semiconductor will post 1.73 EPS for the current year.
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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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