Summit X LLC Sells 5,385 Shares of ON Semiconductor Corporation $ON

Summit X LLC reduced its stake in ON Semiconductor Corporation (NASDAQ:ON) by 52.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,887 shares of the semiconductor company’s stock after selling 5,385 shares during the period. Summit X LLC’s holdings in ON Semiconductor were worth $256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Costello Asset Management INC bought a new position in shares of ON Semiconductor during the first quarter valued at $26,000. Trust Co. of Toledo NA OH bought a new position in ON Semiconductor during the second quarter valued at $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of ON Semiconductor by 61.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,335 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 507 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in ON Semiconductor in the 2nd quarter worth about $57,000. Finally, Zions Bancorporation National Association UT increased its position in ON Semiconductor by 159.3% during the 2nd quarter. Zions Bancorporation National Association UT now owns 1,159 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 712 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling at ON Semiconductor

In other news, CEO Hassane El-Khoury sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were 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 approximately $50,083,633.08. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of ON Semiconductor from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ON Semiconductor in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wells Fargo & Company decreased their price objective on shares of ON Semiconductor from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Finally, Needham & Company LLC boosted their price objective on ON Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ON Semiconductor presently has a consensus rating of “Hold” and an average price target of $59.08.

ON Semiconductor Trading Down 2.0%

NASDAQ:ON opened at $47.83 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.37 and a current ratio of 5.02. ON Semiconductor Corporation has a one year low of $31.04 and a one year high of $74.52. The business’s 50-day simple moving average is $50.04 and its 200 day simple moving average is $50.03. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 44.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.56.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the firm earned $0.99 EPS. The business’s quarterly revenue was down 12.0% on a year-over-year basis. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. As a group, sell-side analysts predict that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

About ON Semiconductor

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.