Unterberg Capital LLC acquired a new stake in ON Semiconductor Corporation (NASDAQ:ON) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 60,000 shares of the semiconductor company’s stock, valued at approximately $1,108,000. ON Semiconductor makes up about 1.4% of Unterberg Capital LLC’s portfolio, making the stock its 23rd biggest position.
Other hedge funds have also added to or reduced their stakes in the company. Convergence Investment Partners LLC bought a new position in shares of ON Semiconductor during the 3rd quarter valued at $3,224,000. Invictus RG bought a new position in shares of ON Semiconductor during the 3rd quarter valued at $409,000. Pinebridge Investments L.P. bought a new position in shares of ON Semiconductor during the 3rd quarter valued at $3,968,000. OxFORD Asset Management LLP bought a new position in shares of ON Semiconductor during the 3rd quarter valued at $8,535,000. Finally, BB&T Securities LLC bought a new position in shares of ON Semiconductor during the 3rd quarter valued at $187,000. 99.82% of the stock is currently owned by institutional investors and hedge funds.
In other ON Semiconductor news, Director Daryl Ostrander sold 2,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was 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 owns 65,458 shares in the company, valued at approximately $1,098,385.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith D. Jackson sold 476,191 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $19.59, for a total value of $9,328,581.69. Following the completion of the sale, the chief executive officer now owns 3,649,468 shares of the company’s stock, valued at approximately $71,493,078.12. The disclosure for this sale can be found here. Insiders sold a total of 740,243 shares of company stock valued at $14,692,763 over the last 90 days. 1.40% of the stock is currently owned by company insiders.
Shares of ON Semiconductor Corporation (ON) opened at $18.98 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $8,423.86, a price-to-earnings ratio of 18.22, a PEG ratio of 0.75 and a beta of 2.02. ON Semiconductor Corporation has a 12 month low of $11.13 and a 12 month high of $22.15.
Several equities analysts have recently weighed in on ON shares. Credit Suisse Group increased their price target on ON Semiconductor from $14.50 to $17.00 and gave the company an “underperform” rating in a report on Tuesday, November 7th. Summit Redstone cut ON Semiconductor to a “hold” rating in a report on Monday, November 6th. BidaskClub cut ON Semiconductor from a “buy” rating to a “hold” rating in a report on Friday, September 15th. B. Riley increased their price target on ON Semiconductor from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, Citigroup set a $23.50 price objective on ON Semiconductor and gave the stock a “buy” rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.23.
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About ON Semiconductor
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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