Piedmont Investment Advisors LLC Has $618,000 Position in ON Semiconductor Corporation (NASDAQ:ON)

Piedmont Investment Advisors LLC raised its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,901 shares of the semiconductor company’s stock after buying an additional 7,287 shares during the period. Piedmont Investment Advisors LLC’s holdings in ON Semiconductor Corporation were worth $618,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in ON Semiconductor Corporation during the fourth quarter valued at about $49,822,000. TCW Group Inc. boosted its position in shares of ON Semiconductor Corporation by 160.1% in the first quarter. TCW Group Inc. now owns 3,060,689 shares of the semiconductor company’s stock worth $47,410,000 after buying an additional 1,884,112 shares during the period. Vanguard Group Inc. boosted its position in shares of ON Semiconductor Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 33,263,248 shares of the semiconductor company’s stock worth $515,248,000 after buying an additional 1,655,255 shares during the period. Boston Partners boosted its position in shares of ON Semiconductor Corporation by 5.5% in the first quarter. Boston Partners now owns 20,408,521 shares of the semiconductor company’s stock worth $316,128,000 after buying an additional 1,068,570 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new position in shares of ON Semiconductor Corporation during the first quarter worth $16,447,000. 96.46% of the stock is currently owned by institutional investors.

Shares of ON Semiconductor Corporation (NASDAQ:ON) opened at 15.01 on Tuesday. The company has a 50 day moving average price of $15.43 and a 200 day moving average price of $14.57. The company has a market cap of $6.32 billion, a PE ratio of 28.87 and a beta of 1.97. ON Semiconductor Corporation has a 52 week low of $9.33 and a 52 week high of $16.93.

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A number of brokerages recently issued reports on ON. Credit Suisse Group lowered shares of ON Semiconductor Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $17.50 to $13.50 in a research note on Tuesday, April 11th. Zacks Investment Research lowered shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. B. Riley restated a “buy” rating and issued a $18.00 price target on shares of ON Semiconductor Corporation in a research note on Saturday, June 17th. Vetr raised shares of ON Semiconductor Corporation from a “sell” rating to a “strong-buy” rating and set a $16.85 price objective for the company in a report on Tuesday, April 11th. Finally, BidaskClub downgraded shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.40.

In other news, EVP Robert A. Klosterboer sold 10,000 shares of ON Semiconductor Corporation stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $14.04, for a total value of $140,400.00. Following the transaction, the executive vice president now owns 334,320 shares in the company, valued at $4,693,852.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William Hall sold 41,364 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.30, for a total value of $632,869.20. The disclosure for this sale can be found here. Insiders have sold 134,690 shares of company stock valued at $2,094,440 in the last three months. 1.60% of the stock is owned by corporate 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.

Institutional Ownership by Quarter for ON Semiconductor Corporation (NASDAQ:ON)

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