ON Semiconductor Corp. (NASDAQ:ON) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 16,655,410 shares, an increase of 25.4% from the September 15th total of 13,277,211 shares. Based on an average daily volume of 7,560,198 shares, the days-to-cover ratio is presently 2.2 days. Approximately 4.1% of the company’s stock are sold short.

A number of research analysts recently issued reports on the stock. Pacific Crest reiterated a “buy” rating and issued a $16.00 price target on shares of ON Semiconductor Corp. in a research note on Thursday, October 6th. Vetr downgraded shares of ON Semiconductor Corp. from a “buy” rating to a “hold” rating and set a $11.91 price target for the company. in a research note on Monday, October 3rd. Stephens upgraded shares of ON Semiconductor Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, October 3rd. B. Riley reissued a “buy” rating and set a $16.00 price objective on shares of ON Semiconductor Corp. in a report on Sunday, September 25th. Finally, Morgan Stanley raised shares of ON Semiconductor Corp. from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. ON Semiconductor Corp. currently has a consensus rating of “Buy” and an average price target of $13.67.

Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.65 on Thursday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 29.87 and a beta of 1.76. The company has a 50 day moving average of $11.40 and a 200 day moving average of $10.05. ON Semiconductor Corp. has a 52-week low of $6.97 and a 52-week high of $12.69.

ON Semiconductor Corp. (NASDAQ:ON) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The firm had revenue of $877.80 million for the quarter, compared to analysts’ expectations of $854.55 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts predict that ON Semiconductor Corp. will post $0.85 EPS for the current fiscal year.

In related news, VP Paul E. Rolls sold 15,000 shares of ON Semiconductor Corp. stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $11.25, for a total value of $168,750.00. Following the completion of the transaction, the vice president now owns 277,202 shares in the company, valued at $3,118,522.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul E. Rolls sold 5,246 shares of ON Semiconductor Corp. stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $12.00, for a total transaction of $62,952.00. Following the completion of the transaction, the vice president now owns 267,202 shares of the company’s stock, valued at approximately $3,206,424. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in ON. Nuveen Asset Management LLC raised its stake in shares of ON Semiconductor Corp. by 343.8% in the first quarter. Nuveen Asset Management LLC now owns 784,062 shares of the company’s stock valued at $7,519,000 after buying an additional 607,400 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in shares of ON Semiconductor Corp. by 1.0% in the first quarter. Kennedy Capital Management Inc. now owns 1,747,768 shares of the company’s stock valued at $16,761,000 after buying an additional 17,500 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ON Semiconductor Corp. by 5.6% in the first quarter. Geode Capital Management LLC now owns 2,652,199 shares of the company’s stock valued at $25,433,000 after buying an additional 139,951 shares in the last quarter. Riverhead Capital Management LLC bought a new stake in shares of ON Semiconductor Corp. during the first quarter valued at $6,938,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of ON Semiconductor Corp. by 2.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,224,352 shares of the company’s stock valued at $30,921,000 after buying an additional 72,736 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

About ON Semiconductor Corp.

ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.

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