Pier 88 Investment Partners LLC Has $276,000 Position in ON Semiconductor Corporation $ON

Pier 88 Investment Partners LLC raised its position in ON Semiconductor Corporation (NASDAQ:ON) by 52,600.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,270 shares of the semiconductor company’s stock after purchasing an additional 5,260 shares during the period. Pier 88 Investment Partners LLC’s holdings in ON Semiconductor were worth $276,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ON. State of Alaska Department of Revenue lifted its holdings in shares of ON Semiconductor by 39.4% in the second quarter. State of Alaska Department of Revenue now owns 139,844 shares of the semiconductor company’s stock valued at $7,328,000 after purchasing an additional 39,530 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in ON Semiconductor by 7.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 818,390 shares of the semiconductor company’s stock valued at $42,892,000 after buying an additional 60,050 shares during the last quarter. United Services Automobile Association acquired a new stake in ON Semiconductor in the 1st quarter valued at approximately $401,000. Mizuho Markets Cayman LP lifted its stake in ON Semiconductor by 2,345.0% in the 2nd quarter. Mizuho Markets Cayman LP now owns 150,807 shares of the semiconductor company’s stock valued at $7,904,000 after acquiring an additional 144,639 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in ON Semiconductor by 4.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company’s stock worth $408,000 after acquiring an additional 463 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ON Semiconductor news, CEO Hassane El-Khoury sold 15,000 shares of the business’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 transaction of $768,300.00. Following the transaction, the chief executive officer owned 977,814 shares of the company’s stock, valued at $50,083,633.08. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ON has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Morgan Stanley raised their target price on shares of ON Semiconductor from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Williams Trading set a $60.00 price target on shares of ON Semiconductor in a research report on Tuesday. Susquehanna restated a “positive” rating and set a $65.00 price objective (down from $75.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Finally, TD Cowen lifted their target price on ON Semiconductor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.08.

ON Semiconductor Stock Performance

NASDAQ ON opened at $47.83 on Friday. The firm has a market capitalization of $19.25 billion, a P/E ratio of 44.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.56. The company has a current ratio of 5.02, a quick ratio of 3.37 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $50.04 and its two-hundred day moving average price is $49.93. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $74.52.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Monday, November 3rd. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. As a group, research analysts anticipate that ON Semiconductor Corporation will post 2.6 EPS for the current year.

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.