Regent Investment Management LLC Decreases Stock Position in ON Semiconductor Corp (NASDAQ:ON)

Regent Investment Management LLC trimmed its stake in shares of ON Semiconductor Corp (NASDAQ:ONGet Rating) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,247 shares of the semiconductor company’s stock after selling 770 shares during the quarter. Regent Investment Management LLC’s holdings in ON Semiconductor were worth $1,069,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new position in ON Semiconductor during the 2nd quarter valued at $55,000. Precision Wealth Strategies LLC acquired a new stake in shares of ON Semiconductor during the second quarter worth $497,000. Parkside Financial Bank & Trust raised its holdings in shares of ON Semiconductor by 111.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,222 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 644 shares during the period. Gateway Investment Advisers LLC raised its holdings in shares of ON Semiconductor by 16.0% during the second quarter. Gateway Investment Advisers LLC now owns 43,637 shares of the semiconductor company’s stock worth $2,195,000 after purchasing an additional 6,013 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of ON Semiconductor by 115.7% during the second quarter. Allworth Financial LP now owns 1,292 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 693 shares during the period. 99.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com cut shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ON Semiconductor from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Susquehanna Bancshares increased their target price on shares of ON Semiconductor from $77.00 to $82.00 and gave the stock a “positive” rating in a report on Tuesday, August 2nd. Needham & Company LLC increased their price objective on shares of ON Semiconductor from $60.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of ON Semiconductor from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.30.

ON Semiconductor Price Performance

Shares of NASDAQ:ON traded down $2.91 during trading hours on Friday, hitting $62.05. 259,388 shares of the company’s stock traded hands, compared to its average volume of 7,022,311. ON Semiconductor Corp has a 52 week low of $41.88 and a 52 week high of $76.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.88 and a current ratio of 2.79. The company’s fifty day simple moving average is $66.97 and its two-hundred day simple moving average is $59.94. The company has a market cap of $26.88 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 0.52 and a beta of 1.80.

ON Semiconductor (NASDAQ:ONGet Rating) last announced its earnings results on Monday, August 1st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, equities analysts anticipate that ON Semiconductor Corp will post 5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the completion of the sale, the chief executive officer now directly owns 261,162 shares in the company, valued at $14,669,469.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Simon Keeton sold 2,813 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $70.00, for a total transaction of $196,910.00. Following the transaction, the executive vice president now owns 167,341 shares of the company’s stock, valued at $11,713,870. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the transaction, the chief executive officer now directly owns 261,162 shares in the company, valued at approximately $14,669,469.54. The disclosure for this sale can be found here. Insiders sold a total of 27,363 shares of company stock worth $1,661,560 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

ON Semiconductor Profile

(Get Rating)

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.

Further Reading

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

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