First Hawaiian Bank lifted its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,375 shares of the semiconductor company’s stock after acquiring an additional 12,968 shares during the quarter. First Hawaiian Bank’s holdings in ON Semiconductor were worth $1,463,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scout Investments Inc. increased its holdings in shares of ON Semiconductor by 91.6% during the first quarter. Scout Investments Inc. now owns 774,019 shares of the semiconductor company’s stock worth $15,922,000 after buying an additional 369,948 shares in the last quarter. Waverton Investment Management Ltd increased its stake in shares of ON Semiconductor by 9.6% during the first quarter. Waverton Investment Management Ltd now owns 43,860 shares of the semiconductor company’s stock worth $902,000 after buying an additional 3,845 shares during the period. Bremer Bank National Association purchased a new stake in shares of ON Semiconductor during the first quarter worth approximately $1,084,000. Exane Asset Management increased its stake in shares of ON Semiconductor by 71.4% during the first quarter. Exane Asset Management now owns 166,646 shares of the semiconductor company’s stock worth $3,428,000 after buying an additional 69,409 shares during the period. Finally, Oakbrook Investments LLC purchased a new stake in shares of ON Semiconductor during the first quarter worth approximately $231,000. Institutional investors own 97.98% of the company’s stock.
In related news, Director Gilles Delfassy sold 3,731 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $18.96, for a total transaction of $70,739.76. Following the completion of the sale, the director now directly owns 49,208 shares of the company’s stock, valued at approximately $932,983.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emmanuel T. Hernandez sold 30,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $22.00, for a total value of $660,000.00. Following the sale, the director now directly owns 100,994 shares of the company’s stock, valued at $2,221,868. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,198 shares of company stock valued at $1,042,444. 1.40% of the stock is owned by corporate insiders.
ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.38 billion. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. ON Semiconductor’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Equities analysts forecast that ON Semiconductor Corp will post 1.58 earnings per share for the current year.
A number of research firms recently weighed in on ON. Jefferies Financial Group upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating and upped their target price for the stock from $26.00 to $29.00 in a research note on Tuesday, April 30th. BidaskClub downgraded ON Semiconductor from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. B. Riley reissued a “buy” rating on shares of ON Semiconductor in a report on Monday, August 5th. Loop Capital decreased their price objective on ON Semiconductor to $23.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Mizuho reaffirmed a “buy” rating and set a $26.00 price target on shares of ON Semiconductor in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.83.
ON Semiconductor Company 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.
Further Reading: Equity Income
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