Sciencast Management LP Invests $584,000 in ON Semiconductor Corporation (ON) Stock

Sciencast Management LP acquired a new stake in ON Semiconductor Corporation (NASDAQ:ON) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 41,600 shares of the semiconductor company’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new position in ON Semiconductor Corporation during the first quarter worth $110,000. Tower Research Capital LLC TRC increased its position in ON Semiconductor Corporation by 2,234.7% during the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock worth $156,000 after buying an additional 9,609 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new position in ON Semiconductor Corporation during the second quarter worth $157,000. Marshall Wace North America L.P. purchased a new position in ON Semiconductor Corporation during the second quarter worth $184,000. Finally, Airain ltd purchased a new position in ON Semiconductor Corporation during the second quarter worth $207,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have weighed in on ON. BidaskClub raised ON Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 3rd. Bank of America Corporation reissued a “buy” rating on shares of ON Semiconductor Corporation in a research report on Sunday, October 1st. Craig Hallum began coverage on ON Semiconductor Corporation in a research report on Monday, September 25th. They set a “buy” rating and a $25.00 price target for the company. Jefferies Group LLC reissued a “hold” rating and set a $16.00 price target on shares of ON Semiconductor Corporation in a research report on Tuesday, September 12th. Finally, Goldman Sachs Group, Inc. (The) downgraded 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 analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $18.55.

Shares of ON Semiconductor Corporation (NASDAQ:ON) traded up 0.16% on Friday, reaching $19.23. The company had a trading volume of 3,433,109 shares. The company has a 50 day moving average price of $17.29 and a 200 day moving average price of $15.66. ON Semiconductor Corporation has a 52-week low of $10.74 and a 52-week high of $19.33. The stock has a market capitalization of $8.11 billion, a PE ratio of 28.32 and a beta of 2.01.

In related news, Director Daryl Ostrander sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $16.78, for a total value of $33,560.00. Following the completion of the sale, the director now directly owns 65,458 shares in the company, valued at $1,098,385.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George H. Cave sold 15,848 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $18.90, for a total transaction of $299,527.20. The disclosure for this sale can be found here. Insiders sold 74,723 shares of company stock valued at $1,336,427 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

ON Semiconductor Corporation Company 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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Institutional Ownership by Quarter for ON Semiconductor Corporation (NASDAQ:ON)

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