Canada Pension Plan Investment Board boosted its holdings in shares of ON Semiconductor Corp (NASDAQ:ON) by 83.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 301,000 shares of the semiconductor company’s stock after purchasing an additional 136,700 shares during the period. Canada Pension Plan Investment Board’s holdings in ON Semiconductor were worth $4,969,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Paradice Investment Management LLC grew its position in ON Semiconductor by 2.7% during the 4th quarter. Paradice Investment Management LLC now owns 3,411,668 shares of the semiconductor company’s stock worth $56,327,000 after purchasing an additional 89,540 shares during the last quarter. Enlightenment Research LLC purchased a new position in ON Semiconductor during the 4th quarter worth $36,000. Oregon Public Employees Retirement Fund grew its position in ON Semiconductor by 5,103.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,121,948 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 2,081,172 shares during the last quarter. Biechele Royce Advisors grew its position in ON Semiconductor by 0.7% during the 4th quarter. Biechele Royce Advisors now owns 411,356 shares of the semiconductor company’s stock worth $6,791,000 after purchasing an additional 2,840 shares during the last quarter. Finally, LSV Asset Management grew its position in ON Semiconductor by 1.5% during the 4th quarter. LSV Asset Management now owns 8,636,521 shares of the semiconductor company’s stock worth $142,588,000 after purchasing an additional 128,295 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on ON. Robert W. Baird downgraded shares of ON Semiconductor from an “outperform” rating to a “neutral” rating in a report on Wednesday. BidaskClub downgraded shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Cowen began coverage on shares of ON Semiconductor in a report on Friday, February 22nd. They issued an “outperform” rating on the stock. ValuEngine raised shares of ON Semiconductor from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research raised shares of ON Semiconductor from a “sell” rating to a “hold” rating in a report on Monday, January 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. ON Semiconductor presently has an average rating of “Hold” and a consensus target price of $24.42.
In related news, VP Paul E. Rolls sold 31,487 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $20.00, for a total transaction of $629,740.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Emmanuel T. Hernandez sold 10,000 shares of the business’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $22.05, for a total transaction of $220,500.00. Following the sale, the director now directly owns 139,655 shares in the company, valued at approximately $3,079,392.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,407 shares of company stock worth $1,720,720. 1.29% of the stock is owned by insiders.
ON stock opened at $21.48 on Friday. The stock has a market cap of $9.36 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.11 and a beta of 2.06. ON Semiconductor Corp has a 52 week low of $14.55 and a 52 week high of $27.10. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.82.
ON Semiconductor announced that its board has approved a share repurchase program on Thursday, November 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 20.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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ON Semiconductor Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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