Neuberger Berman Group LLC reduced its position in ON Semiconductor Corp (NASDAQ:ON) by 7.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,896,601 shares of the semiconductor company’s stock after selling 152,954 shares during the period. Neuberger Berman Group LLC’s holdings in ON Semiconductor were worth $39,013,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ON. Norges Bank bought a new position in shares of ON Semiconductor during the fourth quarter valued at approximately $76,075,000. Millennium Management LLC grew its holdings in shares of ON Semiconductor by 1,917.0% during the fourth quarter. Millennium Management LLC now owns 3,215,704 shares of the semiconductor company’s stock valued at $53,091,000 after purchasing an additional 3,056,275 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of ON Semiconductor by 5,103.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,121,948 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 2,081,172 shares during the last quarter. Lakewood Capital Management LP grew its holdings in shares of ON Semiconductor by 263.7% during the fourth quarter. Lakewood Capital Management LP now owns 1,655,051 shares of the semiconductor company’s stock valued at $27,325,000 after purchasing an additional 1,200,000 shares during the last quarter. Finally, Boussard & Gavaudan Investment Management LLP bought a new position in shares of ON Semiconductor during the first quarter valued at approximately $21,517,000. 96.33% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on ON shares. BidaskClub raised ON Semiconductor from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Cowen started coverage on ON Semiconductor in a report on Friday, February 22nd. They set an “outperform” rating for the company. Robert W. Baird lowered ON Semiconductor from an “outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. BMO Capital Markets raised ON Semiconductor from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.00 to $30.00 in a report on Monday, March 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of ON Semiconductor in a report on Monday, March 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.11.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Saturday, April 27th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. ON Semiconductor had a return on equity of 26.54% and a net margin of 10.22%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that ON Semiconductor Corp will post 1.77 EPS for the current fiscal year.
In other ON Semiconductor news, Director Emmanuel T. Hernandez sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $22.59, for a total value of $225,900.00. Following the completion of the sale, the director now directly owns 119,655 shares in the company, valued at $2,703,006.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilles Delfassy sold 3,731 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $18.96, for a total value of $70,739.76. Following the completion of the sale, the director now owns 49,208 shares of the company’s stock, valued at $932,983.68. The disclosure for this sale can be found here. Insiders sold a total of 31,800 shares of company stock valued at $709,950 over the last three months. Corporate insiders own 1.40% of the company’s stock.
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.
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