Alliancebernstein L.P. lessened its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 31.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,211,137 shares of the semiconductor company’s stock after selling 1,025,008 shares during the quarter. Alliancebernstein L.P. owned about 0.53% of ON Semiconductor Corporation worth $31,044,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Segantii Capital Management Ltd purchased a new position in ON Semiconductor Corporation in the first quarter worth $101,000. Israel Discount Bank of New York purchased a new position in ON Semiconductor Corporation in the first quarter worth $102,000. Oppenheimer Asset Management Inc. purchased a new position in ON Semiconductor Corporation in the first quarter worth $110,000. Tower Research Capital LLC TRC raised its position in ON Semiconductor Corporation by 2,234.7% in the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 9,609 shares in the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new position in ON Semiconductor Corporation in the second quarter worth $157,000. Institutional investors and hedge funds own 98.07% of the company’s stock.
Shares of ON Semiconductor Corporation (NASDAQ:ON) opened at 17.46 on Tuesday. ON Semiconductor Corporation has a 52 week low of $10.74 and a 52 week high of $17.60. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 25.71 and a beta of 1.98. The firm has a 50-day moving average price of $16.29 and a 200-day moving average price of $15.36.
In related news, insider Bernard Raymond Colpitts, Jr. sold 2,490 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $16.31, for a total transaction of $40,611.90. Following the transaction, the insider now directly owns 24,591 shares of the company’s stock, valued at $401,079.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul E. Rolls sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $17.00, for a total value of $170,000.00. Following the transaction, the vice president now directly owns 368,029 shares in the company, valued at $6,256,493. The disclosure for this sale can be found here. Insiders have sold 23,491 shares of company stock worth $396,777 over the last ninety days. 1.60% of the stock is owned by insiders.
ON has been the subject of several research analyst reports. Zacks Investment Research cut ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Credit Suisse Group increased their price objective on ON Semiconductor Corporation from $13.50 to $14.50 and gave the stock an “underperform” rating in a research report on Tuesday, August 8th. Robert W. Baird reiterated a “buy” rating and issued a $20.00 price objective on shares of ON Semiconductor Corporation in a research report on Thursday, August 24th. BidaskClub upgraded ON Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Goldman Sachs Group, Inc. (The) cut ON Semiconductor Corporation from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $17.47.
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ON Semiconductor Corporation Profile
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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