Nordea Investment Management AB raised its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 17.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,480,677 shares of the semiconductor company’s stock after buying an additional 215,228 shares during the quarter. Nordea Investment Management AB owned about 0.35% of ON Semiconductor worth $24,446,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ON. Huntington National Bank grew its holdings in shares of ON Semiconductor by 69.2% during the fourth quarter. Huntington National Bank now owns 1,926 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 788 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $34,000. Enlightenment Research LLC purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $36,000. Financial Gravity Companies Inc. purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $56,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of ON Semiconductor during the fourth quarter worth about $62,000. 94.85% of the stock is owned by institutional investors and hedge funds.
Shares of ON Semiconductor stock traded up $0.03 during midday trading on Friday, reaching $22.62. 5,253,280 shares of the company’s stock traded hands, compared to its average volume of 6,034,661. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. The company has a market cap of $9.32 billion, a PE ratio of 11.54, a P/E/G ratio of 1.73 and a beta of 2.03. ON Semiconductor Corp has a 12 month low of $14.55 and a 12 month high of $26.38.
In other news, Director Emmanuel T. Hernandez sold 30,000 shares of the stock in a transaction on Friday, January 25th. The stock was sold at an average price of $20.01, for a total value of $600,300.00. Following the sale, the director now directly owns 159,655 shares of the company’s stock, valued at $3,194,696.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Emmanuel T. Hernandez sold 10,000 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the completion of the sale, the director now directly owns 149,655 shares in the company, valued at $3,292,410. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,000 shares of company stock valued at $1,491,900. 1.40% of the stock is owned by corporate insiders.
Several analysts have issued reports on ON shares. Zacks Investment Research lowered ON Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $28.00 target price on shares of ON Semiconductor in a research note on Wednesday, January 9th. BidaskClub raised ON Semiconductor from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 12th. ValuEngine raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Cowen assumed coverage on ON Semiconductor in a research report on Friday, February 22nd. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.82.
ON Semiconductor Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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