HITE Hedge Asset Management LLC Buys Shares of 38,667 ON Semiconductor Corporation $ON

HITE Hedge Asset Management LLC bought a new stake in shares of ON Semiconductor Corporation (NASDAQ:ON) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 38,667 shares of the semiconductor company’s stock, valued at approximately $1,907,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of ON Semiconductor by 0.5% in the second quarter. Vanguard Group Inc. now owns 51,367,704 shares of the semiconductor company’s stock worth $2,692,181,000 after buying an additional 243,238 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in ON Semiconductor by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company’s stock valued at $639,716,000 after acquiring an additional 877,533 shares during the last quarter. Geode Capital Management LLC grew its holdings in ON Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,296,301 shares of the semiconductor company’s stock worth $590,383,000 after acquiring an additional 77,795 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in ON Semiconductor by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,889,080 shares of the semiconductor company’s stock worth $284,737,000 after acquiring an additional 53,748 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of ON Semiconductor by 55.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock worth $305,943,000 after purchasing an additional 2,072,125 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Key Headlines Impacting ON Semiconductor

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: Q4 EPS beat estimates (reported $0.64 vs. $0.62 consensus) and management provided a Q1 2026 EPS guide range (0.560–0.660), which helps limit downside from the print. Here’s Why ON Semiconductor Corp. (ON) Fell More Than Broader Market
• Positive Sentiment: Balance-sheet strength and liquidity metrics are favorable (high quick/current ratios and modest leverage), which reduces short-term financial risk and supports stability through a cyclic semiconductor cycle.
• Neutral Sentiment: Analyst coverage remains mixed-to-positive — some firms are constructive on the long-term story while others are cautious on near-term demand; that keeps volatility likely but provides a base of buy-side interest. Is ON Semiconductor Stock Outperforming the Dow?
• Negative Sentiment: Leadership change in the Power Solutions group: Group President Simon Keeton resigned from officer roles and will transition out by June 30, raising near-term execution and continuity concerns for a key growth division (power and automotive). ON Semiconductor Announces Leadership Transition in Power Solutions
• Negative Sentiment: Revenue weakness: quarterly revenue declined year-over-year (roughly an 11% drop), which alongside the earnings reaction has pressured the stock since the release. Why Is ON Semiconductor Corp. (ON) Down 11.6% Since Last Earnings Report?
• Negative Sentiment: Market reaction: commentators note the stock has traded down materially since the earnings release, amplifying intraday downside as investors reprice growth expectations and near-term demand risks. Here’s Why ON Semiconductor Corp. (ON) Fell More Than Broader Market

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ON shares. Stifel Nicolaus increased their price target on shares of ON Semiconductor from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday, January 16th. TD Cowen reissued a “buy” rating on shares of ON Semiconductor in a report on Tuesday, February 10th. Piper Sandler upped their price objective on ON Semiconductor from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Needham & Company LLC lifted their target price on ON Semiconductor from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Truist Financial boosted their price target on ON Semiconductor from $57.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, February 10th. Twelve research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.19.

ON Semiconductor Trading Down 2.6%

NASDAQ ON opened at $57.69 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 4.52. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $73.76. The company has a 50-day simple moving average of $63.60 and a 200-day simple moving average of $55.31. The firm has a market capitalization of $22.73 billion, a PE ratio of 169.68, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Monday, February 9th. The semiconductor company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. ON Semiconductor had a net margin of 2.02% and a return on equity of 12.22%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. ON Semiconductor’s quarterly revenue was down 11.2% on a year-over-year basis. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. On average, equities analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

ON Semiconductor declared that its board has approved a stock repurchase program on Tuesday, November 18th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 32.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $73.02, for a total transaction of $1,460,400.00. Following the sale, the chief executive officer directly owned 1,015,610 shares in the company, valued at approximately $74,159,842.20. This represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Trent Thad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $71.22, for a total value of $4,273,200.00. Following the completion of the sale, the chief financial officer directly owned 339,460 shares in the company, valued at approximately $24,176,341.20. This trade represents a 15.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.31% of the stock is currently owned by corporate insiders.

About ON Semiconductor

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.