State of New Jersey Common Pension Fund D Sells 10,224 Shares of ON Semiconductor Corporation $ON

State of New Jersey Common Pension Fund D trimmed its position in ON Semiconductor Corporation (NASDAQ:ON) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,034 shares of the semiconductor company’s stock after selling 10,224 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ON Semiconductor were worth $5,779,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in ON Semiconductor by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company’s stock valued at $1,674,000 after buying an additional 312 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of ON Semiconductor by 4.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 117,463 shares of the semiconductor company’s stock valued at $7,406,000 after acquiring an additional 5,271 shares during the period. Dimensional Fund Advisors LP grew its position in shares of ON Semiconductor by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after acquiring an additional 771,610 shares during the period. Norinchukin Bank The increased its stake in shares of ON Semiconductor by 5.8% in the 4th quarter. Norinchukin Bank The now owns 22,139 shares of the semiconductor company’s stock worth $1,396,000 after purchasing an additional 1,211 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in ON Semiconductor by 1.2% in the 4th quarter. MetLife Investment Management LLC now owns 112,681 shares of the semiconductor company’s stock worth $7,105,000 after purchasing an additional 1,286 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ON shares. Bank of America reissued a “neutral” rating and set a $56.00 price target (down previously from $70.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. TD Cowen reduced their target price 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. Stifel Nicolaus raised their target price on shares of ON Semiconductor from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, July 18th. Truist Financial lifted their price target on shares of ON Semiconductor from $43.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday, August 5th. Finally, KeyCorp increased their price objective on shares of ON Semiconductor from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, ON Semiconductor has a consensus rating of “Hold” and a consensus target price of $56.84.

ON Semiconductor Stock Performance

ON Semiconductor stock opened at $50.53 on Tuesday. The company’s 50-day moving average price is $54.54 and its 200-day moving average price is $47.34. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. The company has a market cap of $20.67 billion, a PE ratio of 47.22, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $78.61.

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

Insider Buying and Selling at ON Semiconductor

In related news, CEO Hassane El-Khoury sold 15,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 977,814 shares in the company, valued at $50,083,633.08. This trade represents 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. Corporate insiders own 0.31% of the company’s stock.

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.