Russell Investments Group Ltd. Buys 43,657 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Russell Investments Group Ltd. boosted its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,966 shares of the semiconductor company’s stock after purchasing an additional 43,657 shares during the period. Russell Investments Group Ltd. owned about 0.06% of ON Semiconductor worth $23,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. raised its position in shares of ON Semiconductor by 175.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 275 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 175 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of ON Semiconductor by 95.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 170 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of ON Semiconductor during the 4th quarter valued at $25,000. Ancora Advisors LLC bought a new stake in shares of ON Semiconductor during the 1st quarter valued at $33,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of ON Semiconductor by 47.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 604 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 193 shares during the period. Institutional investors own 96.36% of the company’s stock.

ON Semiconductor Stock Up 0.9 %

Shares of ON Semiconductor stock opened at $70.68 on Tuesday. The firm’s 50 day moving average price is $83.29 and its 200-day moving average price is $89.57. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.34. ON Semiconductor Corporation has a 52-week low of $59.61 and a 52-week high of $111.35. The company has a market cap of $30.44 billion, a P/E ratio of 14.25, a PEG ratio of 3.36 and a beta of 1.84.

ON Semiconductor (NASDAQ:ON) last released its earnings results on Monday, October 30th. The semiconductor company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. ON Semiconductor had a net margin of 26.69% and a return on equity of 33.78%. ON Semiconductor’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. On average, sell-side analysts predict that ON Semiconductor Corporation will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of ON Semiconductor from $118.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. The Goldman Sachs Group cut their target price on shares of ON Semiconductor from $106.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. KeyCorp cut their target price on shares of ON Semiconductor from $125.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, October 31st. BNP Paribas cut shares of ON Semiconductor from an “outperform” rating to a “neutral” rating and set a $95.00 target price for the company. in a research note on Wednesday, October 4th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $60.00 target price (down from $120.00) on shares of ON Semiconductor in a research note on Tuesday, October 31st. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Insider Activity at ON Semiconductor

In related news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $99.18, for a total transaction of $277,208.10. Following the sale, the chief accounting officer now owns 32,050 shares in the company, valued at $3,178,719. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

ON Semiconductor Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.