Vontobel Holding Ltd. Purchases 49,037 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Vontobel Holding Ltd. lifted its position in ON Semiconductor Corporation (NASDAQ:ON) by 44.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,864 shares of the semiconductor company’s stock after purchasing an additional 49,037 shares during the quarter. Vontobel Holding Ltd.’s holdings in ON Semiconductor were worth $6,505,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP increased its holdings in shares of ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in ON Semiconductor in the fourth quarter worth $43,000. Golden State Wealth Management LLC grew its position in ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 320 shares in the last quarter. Plato Investment Management Ltd purchased a new position in ON Semiconductor in the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. grew its position in ON Semiconductor by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

ON Semiconductor Price Performance

NASDAQ:ON opened at $55.95 on Thursday. The business’s 50-day moving average is $46.49 and its 200 day moving average is $48.57. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $80.08. The company has a market capitalization of $23.38 billion, a P/E ratio of 38.85, a P/E/G ratio of 4.42 and a beta of 1.43.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. On average, equities research analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ON. Morgan Stanley began coverage on shares of ON Semiconductor in a research report on Monday, May 12th. They issued an “equal weight” rating and a $39.00 target price for the company. Loop Capital cut their target price on shares of ON Semiconductor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. B. Riley reiterated a “neutral” rating and issued a $56.00 target price (up from $40.00) on shares of ON Semiconductor in a research report on Wednesday, June 18th. Benchmark cut their target price on shares of ON Semiconductor from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Citigroup cut their target price on shares of ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.08.

ON Semiconductor Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.