Engineers Gate Manager LP Has $1 Million Stake in ON Semiconductor Corporation (ON)

Engineers Gate Manager LP reduced its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 74.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,365 shares of the semiconductor company’s stock after selling 204,252 shares during the period. Engineers Gate Manager LP’s holdings in ON Semiconductor Corporation were worth $1,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ON. LSV Asset Management lifted its position in shares of ON Semiconductor Corporation by 2,285.0% during the 2nd quarter. LSV Asset Management now owns 2,761,800 shares of the semiconductor company’s stock valued at $38,775,000 after buying an additional 2,646,000 shares in the last quarter. Rothschild Asset Management Inc. purchased a new position in shares of ON Semiconductor Corporation during the 2nd quarter valued at about $34,313,000. TCW Group Inc. lifted its position in shares of ON Semiconductor Corporation by 160.1% during the 1st quarter. TCW Group Inc. now owns 3,060,689 shares of the semiconductor company’s stock valued at $47,410,000 after buying an additional 1,884,112 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ON Semiconductor Corporation by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 33,263,248 shares of the semiconductor company’s stock valued at $515,248,000 after buying an additional 1,655,255 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its holdings in ON Semiconductor Corporation by 39.4% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,590,670 shares of the semiconductor company’s stock worth $64,453,000 after purchasing an additional 1,297,290 shares in the last quarter. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

ON Semiconductor Corporation (NASDAQ ON) opened at 16.91 on Friday. The stock’s 50 day moving average price is $16.17 and its 200 day moving average price is $15.32. ON Semiconductor Corporation has a 52-week low of $10.74 and a 52-week high of $17.33. The company has a market cap of $7.13 billion, a P/E ratio of 24.90 and a beta of 1.98.

In related news, EVP George H. Cave sold 6,943 shares of ON Semiconductor Corporation stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $17.00, for a total transaction of $118,031.00. Following the transaction, the executive vice president now owns 330,496 shares in the company, valued at $5,618,432. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert A. Klosterboer sold 10,000 shares of ON Semiconductor Corporation stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.40, for a total value of $154,000.00. Following the transaction, the executive vice president now owns 324,320 shares in the company, valued at approximately $4,994,528. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,433 shares of company stock worth $482,643. 1.60% of the stock is currently owned by company insiders.

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A number of research firms recently commented on ON. B. Riley reissued a “buy” rating and issued a $21.00 price target on shares of ON Semiconductor Corporation in a report on Sunday, August 13th. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price target on shares of ON Semiconductor Corporation in a report on Tuesday. BidaskClub cut ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp reissued a “hold” rating on shares of ON Semiconductor Corporation in a report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of ON Semiconductor Corporation in a report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $17.47.

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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