US Bancorp DE decreased its position in ON Semiconductor Corporation (NASDAQ:ON – Free Report) by 15.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,310 shares of the semiconductor company’s stock after selling 9,553 shares during the quarter. US Bancorp DE’s holdings in ON Semiconductor were worth $5,137,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its stake in ON Semiconductor by 175.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 275 shares of the semiconductor company’s stock worth $26,000 after buying an additional 175 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of ON Semiconductor by 95.5% during the second 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 last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of ON Semiconductor during the fourth quarter valued at approximately $25,000. Ancora Advisors LLC bought a new stake in shares of ON Semiconductor during the first quarter valued at approximately $33,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of ON Semiconductor by 47.0% during the second 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 last quarter. 96.36% of the stock is owned by institutional investors.
Insider Transactions at ON Semiconductor
In other news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $99.18, for a total transaction of $277,208.10. Following the completion of the transaction, the chief accounting officer now directly owns 32,050 shares of the company’s stock, valued at $3,178,719. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by insiders.
ON Semiconductor Stock Performance
ON Semiconductor (NASDAQ:ON – Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.15 billion. ON Semiconductor had a return on equity of 33.78% and a net margin of 26.69%. ON Semiconductor’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. Equities analysts expect that ON Semiconductor Corporation will post 5.13 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently commented on ON. Morgan Stanley decreased their price target on shares of ON Semiconductor from $110.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. Bank of America increased their price target on shares of ON Semiconductor from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus increased their price target on shares of ON Semiconductor from $98.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, August 1st. Robert W. Baird reissued a “neutral” rating and set a $60.00 price target (down from $120.00) on shares of ON Semiconductor in a research note on Tuesday, October 31st. Finally, Truist Financial reduced their price objective on shares of ON Semiconductor from $122.00 to $81.00 and set a “buy” rating on the stock 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.88.
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.
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