Robeco Schweiz AG lowered its stake in ON Semiconductor Co. (NASDAQ:ON) by 33.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,721,683 shares of the semiconductor company’s stock after selling 2,936,317 shares during the period. ON Semiconductor makes up approximately 3.1% of Robeco Schweiz AG’s investment portfolio, making the stock its 7th biggest position. Robeco Schweiz AG’s holdings in ON Semiconductor were worth $261,881,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. IFM Investors Pty Ltd lifted its position in ON Semiconductor by 0.6% in the third quarter. IFM Investors Pty Ltd now owns 54,266 shares of the semiconductor company’s stock worth $2,484,000 after buying an additional 327 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of ON Semiconductor in the third quarter valued at $72,000. Three Peaks Capital Management LLC lifted its holdings in shares of ON Semiconductor by 6.8% in the 3rd quarter. Three Peaks Capital Management LLC now owns 50,579 shares of the semiconductor company’s stock worth $2,315,000 after acquiring an additional 3,231 shares during the last quarter. Pensionfund DSM Netherlands bought a new position in shares of ON Semiconductor during the third quarter valued at approximately $334,000. Finally, Lenox Wealth Advisors LLC purchased a new stake in shares of ON Semiconductor in the third quarter worth approximately $43,000. 90.10% of the stock is currently owned by institutional investors.
In other news, Director Gregory L. Waters acquired 17,000 shares of ON Semiconductor stock in a transaction dated Tuesday, September 7th. The stock was purchased at an average cost of $45.26 per share, for a total transaction of $769,420.00. Following the completion of the purchase, the director now directly owns 8,175 shares in the company, valued at approximately $370,000.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Simon Keeton sold 4,352 shares of the firm’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $55.81, for a total transaction of $242,885.12. The disclosure for this sale can be found here. Company insiders own 1.42% of the company’s stock.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Sunday, October 31st. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. ON Semiconductor had a return on equity of 25.19% and a net margin of 10.61%. The business’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts anticipate that ON Semiconductor Co. will post 2.8 earnings per share for the current fiscal year.
A number of research firms have weighed in on ON. Susquehanna Bancshares increased their target price on ON Semiconductor from $63.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, November 2nd. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of ON Semiconductor in a report on Thursday, August 26th. The Goldman Sachs Group boosted their price objective on shares of ON Semiconductor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 2nd. UBS Group began coverage on shares of ON Semiconductor in a research report on Wednesday, October 13th. They set a “neutral” rating and a $46.00 target price on the stock. Finally, Robert W. Baird boosted their price target on ON Semiconductor from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, November 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, ON Semiconductor has a consensus rating of “Buy” and an average target price of $56.59.
About ON Semiconductor
ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.
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