3,755 Shares in ON Semiconductor Corp (ON) Purchased by Massey Quick Simon & CO. LLC

Massey Quick Simon & CO. LLC purchased a new position in shares of ON Semiconductor Corp (NASDAQ:ON) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,755 shares of the semiconductor company’s stock, valued at approximately $62,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in ON Semiconductor by 1.0% in the third quarter. Vanguard Group Inc. now owns 43,093,027 shares of the semiconductor company’s stock valued at $794,204,000 after acquiring an additional 411,056 shares during the period. Vanguard Group Inc grew its holdings in shares of ON Semiconductor by 1.0% during the third quarter. Vanguard Group Inc now owns 43,093,027 shares of the semiconductor company’s stock worth $794,204,000 after purchasing an additional 411,056 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of ON Semiconductor by 1.9% during the third quarter. Janus Henderson Group PLC now owns 30,624,004 shares of the semiconductor company’s stock worth $564,401,000 after purchasing an additional 578,266 shares during the last quarter. Capital International Investors boosted its holdings in ON Semiconductor by 9.0% in the third quarter. Capital International Investors now owns 20,741,159 shares of the semiconductor company’s stock valued at $382,260,000 after acquiring an additional 1,712,102 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in ON Semiconductor by 24.1% in the third quarter. Pictet Asset Management Ltd. now owns 11,721,514 shares of the semiconductor company’s stock valued at $216,028,000 after acquiring an additional 2,278,586 shares during the last quarter. Institutional investors and hedge funds own 91.42% of the company’s stock.

ON stock opened at $22.93 on Thursday. The company has a market cap of $9.55 billion, a P/E ratio of 11.70, a PEG ratio of 1.06 and a beta of 2.06. ON Semiconductor Corp has a fifty-two week low of $14.55 and a fifty-two week high of $27.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.44 and a current ratio of 2.36.

ON Semiconductor announced that its Board of Directors has initiated a share buyback program on Thursday, November 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 20.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

In other news, Director Daryl Ostrander sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $18.01, for a total value of $72,040.00. Following the completion of the transaction, the director now directly owns 85,135 shares of the company’s stock, valued at $1,533,281.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emmanuel T. Hernandez sold 10,000 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $22.05, for a total value of $220,500.00. Following the completion of the transaction, the director now directly owns 139,655 shares of the company’s stock, valued at $3,079,392.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,407 shares of company stock valued at $1,792,760. 1.29% of the stock is currently owned by corporate insiders.

Several research firms have weighed in on ON. Robert W. Baird reissued a “buy” rating and issued a $28.00 target price on shares of ON Semiconductor in a research note on Wednesday, January 9th. Citigroup dropped their price target on ON Semiconductor from $28.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Zacks Investment Research upgraded ON Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Nomura decreased their price objective on ON Semiconductor from $30.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Finally, BMO Capital Markets assumed coverage on ON Semiconductor in a research note on Monday, November 12th. They issued a “market perform” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $24.42.

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ON Semiconductor Company Profile

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.

Further Reading: Quiet Period Expirations

Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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