ON Semiconductor Corp (NASDAQ:ON) Short Interest Down 10.4% in January

ON Semiconductor Corp (NASDAQ:ON) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 24,330,000 shares, a decline of 10.4% from the January 15th total of 27,140,000 shares. Approximately 6.0% of the company’s shares are sold short. Based on an average trading volume of 5,040,000 shares, the days-to-cover ratio is presently 4.8 days.

In related news, COO William A. Schromm sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $23.00, for a total transaction of $230,000.00. Following the transaction, the chief operating officer now directly owns 706,413 shares of the company’s stock, valued at $16,247,499. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William A. Schromm sold 9,513 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $25.50, for a total transaction of $242,581.50. Following the transaction, the chief operating officer now directly owns 676,900 shares in the company, valued at $17,260,950. The disclosure for this sale can be found here. Insiders have sold 196,914 shares of company stock worth $4,885,471 in the last 90 days. 1.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of ON. Caxton Associates LP acquired a new position in ON Semiconductor during the 4th quarter valued at $989,000. Captrust Financial Advisors raised its stake in ON Semiconductor by 2,146.3% during the 4th quarter. Captrust Financial Advisors now owns 16,915 shares of the semiconductor company’s stock valued at $424,000 after purchasing an additional 16,162 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in ON Semiconductor by 1.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 117,784 shares of the semiconductor company’s stock valued at $2,872,000 after purchasing an additional 1,358 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new position in ON Semiconductor during the 4th quarter valued at $28,000. Finally, Castleark Management LLC acquired a new position in ON Semiconductor during the 4th quarter valued at $2,318,000. 97.27% of the stock is owned by institutional investors.

ON has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of ON Semiconductor from $18.50 to $19.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Wells Fargo & Co reaffirmed a “hold” rating on shares of ON Semiconductor in a research report on Monday, December 9th. Craig Hallum lowered their price objective on shares of ON Semiconductor from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Cowen lowered their price objective on shares of ON Semiconductor from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Finally, BidaskClub downgraded shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.44.

ON stock traded down $0.19 during trading hours on Friday, hitting $21.44. The company’s stock had a trading volume of 5,628,796 shares, compared to its average volume of 8,336,668. The company has a quick ratio of 0.92, a current ratio of 1.54 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $8.88 billion, a PE ratio of 42.88, a price-to-earnings-growth ratio of 1.93 and a beta of 2.27. ON Semiconductor has a 12 month low of $16.65 and a 12 month high of $25.92. The stock has a 50 day moving average price of $23.68 and a two-hundred day moving average price of $20.94.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Monday, February 3rd. The semiconductor company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. ON Semiconductor had a return on equity of 18.85% and a net margin of 3.84%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts expect that ON Semiconductor will post 1.39 earnings per share for the current year.

About ON Semiconductor

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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