Principal Financial Group Inc. trimmed its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,673 shares of the semiconductor company’s stock after selling 991 shares during the quarter. Principal Financial Group Inc.’s holdings in ON Semiconductor were worth $936,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Lakewood Capital Management LP increased its position in ON Semiconductor by 263.7% during the 4th quarter. Lakewood Capital Management LP now owns 1,655,051 shares of the semiconductor company’s stock worth $27,325,000 after purchasing an additional 1,200,000 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in ON Semiconductor during the 4th quarter worth approximately $2,269,000. Achmea Investment Management B.V. grew its holdings in ON Semiconductor by 136.4% during the 4th quarter. Achmea Investment Management B.V. now owns 109,164 shares of the semiconductor company’s stock worth $1,802,000 after acquiring an additional 62,994 shares during the last quarter. Jump Trading LLC bought a new stake in ON Semiconductor during the 4th quarter worth approximately $229,000. Finally, ARP Americas LP grew its holdings in ON Semiconductor by 179.4% during the 4th quarter. ARP Americas LP now owns 29,900 shares of the semiconductor company’s stock worth $494,000 after acquiring an additional 19,200 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.
NASDAQ:ON opened at $22.62 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.32 and a current ratio of 2.16. ON Semiconductor Corp has a 52 week low of $14.55 and a 52 week high of $26.38. The firm has a market capitalization of $9.32 billion, a PE ratio of 11.54, a PEG ratio of 1.73 and a beta of 2.03.
In related news, Director Emmanuel T. Hernandez sold 30,000 shares of the business’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $20.01, for a total transaction of $600,300.00. Following the transaction, the director now owns 159,655 shares in the company, valued at approximately $3,194,696.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emmanuel T. Hernandez sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $22.59, for a total transaction of $225,900.00. Following the transaction, the director now owns 119,655 shares in the company, valued at approximately $2,703,006.45. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $1,491,900 in the last quarter. 1.40% of the stock is owned by corporate insiders.
A number of research firms have weighed in on ON. BidaskClub lowered shares of ON Semiconductor from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $27.00 target price on shares of ON Semiconductor in a report on Monday, March 11th. BMO Capital Markets raised shares of ON Semiconductor from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $30.00 in a report on Monday, March 4th. ValuEngine raised shares of ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Zacks Investment Research raised shares of ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. ON Semiconductor presently has an average rating of “Hold” and a consensus 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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