Corton Capital Inc. Acquires New Shares in ON Semiconductor Corporation $ON

Corton Capital Inc. acquired a new stake in ON Semiconductor Corporation (NASDAQ:ON) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,275 shares of the semiconductor company’s stock, valued at approximately $276,000.

Several other large investors have also recently bought and sold shares of the company. Moody National Bank Trust Division increased its holdings in shares of ON Semiconductor by 1.5% during the second quarter. Moody National Bank Trust Division now owns 11,404 shares of the semiconductor company’s stock valued at $598,000 after acquiring an additional 169 shares in the last quarter. Freedom Investment Management Inc. grew its holdings in ON Semiconductor by 2.6% during the second quarter. Freedom Investment Management Inc. now owns 7,853 shares of the semiconductor company’s stock worth $412,000 after buying an additional 196 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in ON Semiconductor by 0.4% during the second quarter. New York Life Investment Management LLC now owns 62,678 shares of the semiconductor company’s stock worth $3,285,000 after purchasing an additional 221 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in ON Semiconductor by 4.1% during the second quarter. Sowell Financial Services LLC now owns 5,668 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 223 shares during the last quarter. Finally, Applied Finance Capital Management LLC boosted its holdings in ON Semiconductor by 2.2% during the second quarter. Applied Finance Capital Management LLC now owns 10,668 shares of the semiconductor company’s stock worth $559,000 after purchasing an additional 225 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

ON Semiconductor Stock Performance

Shares of ON stock opened at $50.08 on Monday. The company has a market cap of $20.48 billion, a price-to-earnings ratio of 46.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.49. The stock has a 50 day simple moving average of $50.21 and a 200-day simple moving average of $49.54. ON Semiconductor Corporation has a 12-month low of $31.04 and a 12-month high of $74.52. The company has a current ratio of 5.02, a quick ratio of 3.37 and a debt-to-equity ratio of 0.42.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Monday, August 4th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.45 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The business’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period last year, the company posted $0.96 earnings per share. On average, equities analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ON. Piper Sandler reissued an “overweight” rating on shares of ON Semiconductor in a research report on Monday, August 4th. B. Riley reissued a “neutral” rating on shares of ON Semiconductor in a report on Tuesday, August 5th. TD Cowen lowered their price target on shares of ON Semiconductor from $68.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Finally, Citigroup reduced their target price on shares of ON Semiconductor from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, ON Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $56.96.

Insider Buying and Selling at ON Semiconductor

In related news, CEO Hassane El-Khoury sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total value of $768,300.00. Following the sale, the chief executive officer owned 977,814 shares in the company, valued at $50,083,633.08. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

ON Semiconductor Company 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.