Highland Capital Management LLC purchased a new stake in ON Semiconductor Corporation (NASDAQ:ON) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 37,250 shares of the semiconductor company’s stock, valued at approximately $523,000.
Several other hedge funds and other institutional investors have also made changes to their positions in ON. Segantii Capital Management Ltd purchased a new position in ON Semiconductor Corporation during the first quarter worth about $101,000. Israel Discount Bank of New York purchased a new position in ON Semiconductor Corporation during the first quarter worth about $102,000. Oppenheimer Asset Management Inc. purchased a new position in ON Semiconductor Corporation during the first quarter worth about $110,000. FTB Advisors Inc. raised its position in ON Semiconductor Corporation by 499.9% in the first quarter. FTB Advisors Inc. now owns 10,306 shares of the semiconductor company’s stock worth $148,000 after buying an additional 8,588 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in ON Semiconductor Corporation by 2,234.7% in the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock worth $156,000 after buying an additional 9,609 shares during the last quarter. Institutional investors own 96.46% of the company’s stock.
ON Semiconductor Corporation (ON) traded down 3.31% during trading on Friday, hitting $15.20. 6,908,113 shares of the stock were exchanged. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 29.23 and a beta of 1.96. The firm has a 50-day moving average of $15.16 and a 200-day moving average of $14.76. ON Semiconductor Corporation has a 52 week low of $9.38 and a 52 week high of $16.93.
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ON has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and issued a $18.00 target price on shares of ON Semiconductor Corporation in a research note on Saturday, June 17th. MKM Partners restated a “buy” rating and issued a $20.00 price target on shares of ON Semiconductor Corporation in a research report on Friday, April 7th. Zacks Investment Research upgraded shares of ON Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, May 9th. Stifel Nicolaus raised their price target on shares of ON Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Finally, BidaskClub upgraded shares of ON Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. ON Semiconductor Corporation currently has a consensus rating of “Buy” and a consensus target price of $16.40.
In other news, Director Daryl Ostrander sold 17,726 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $16.18, for a total value of $286,806.68. Following the completion of the transaction, the director now owns 67,458 shares of the company’s stock, valued at $1,091,470.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Hall sold 41,364 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.30, for a total transaction of $632,869.20. The disclosure for this sale can be found here. Insiders have sold 134,690 shares of company stock valued at $2,094,440 in the last ninety days. 1.60% of the stock is currently owned by company insiders.
ON Semiconductor Corporation Company 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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