Marshall Wace North America L.P. bought a new stake in ON Semiconductor Corporation (NASDAQ:ON) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,108 shares of the semiconductor company’s stock, valued at approximately $184,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Segantii Capital Management Ltd bought a new stake in ON Semiconductor Corporation during the first quarter worth approximately $101,000. Israel Discount Bank of New York bought a new stake in ON Semiconductor Corporation during the first quarter worth approximately $102,000. Oppenheimer Asset Management Inc. bought a new stake in ON Semiconductor Corporation during the first quarter worth approximately $110,000. Tower Research Capital LLC TRC boosted its position in ON Semiconductor Corporation by 2,234.7% during the first quarter. Tower Research Capital LLC TRC now owns 10,039 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 9,609 shares during the period. Finally, Nine Chapters Capital Management LLC bought a new stake in ON Semiconductor Corporation during the second quarter worth approximately $157,000. Institutional investors own 98.07% of the company’s stock.
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Several research analysts recently commented on ON shares. B. Riley reaffirmed a “buy” rating and issued a $18.00 target price on shares of ON Semiconductor Corporation in a research report on Saturday, June 17th. BidaskClub upgraded ON Semiconductor Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Needham & Company LLC upgraded ON Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 7th. KeyCorp reiterated a “hold” rating on shares of ON Semiconductor Corporation in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $17.00 price objective (up from $16.00) on shares of ON Semiconductor Corporation in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. ON Semiconductor Corporation currently has a consensus rating of “Buy” and an average target price of $17.47.
Shares of ON Semiconductor Corporation (NASDAQ ON) opened at 17.38 on Friday. The company has a market capitalization of $7.33 billion, a P/E ratio of 25.60 and a beta of 1.98. ON Semiconductor Corporation has a 52-week low of $10.74 and a 52-week high of $17.51. The stock’s 50 day moving average price is $16.23 and its 200-day moving average price is $15.34.
In other news, EVP Robert A. Klosterboer sold 10,000 shares of ON Semiconductor Corporation stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 324,320 shares in the company, valued at $4,994,528. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daryl Ostrander sold 2,000 shares of ON Semiconductor Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $16.78, for a total value of $33,560.00. Following the completion of the transaction, the director now owns 65,458 shares of the company’s stock, valued at $1,098,385.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,491 shares of company stock valued at $550,777. 1.60% of the stock is owned by company insiders.
About ON Semiconductor Corporation
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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