First Mercantile Trust Co. Trims Position in ON Semiconductor Corp (ON)

First Mercantile Trust Co. lowered its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 41.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,174 shares of the semiconductor company’s stock after selling 23,807 shares during the period. First Mercantile Trust Co.’s holdings in ON Semiconductor were worth $715,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Krilogy Financial LLC grew its position in ON Semiconductor by 2.8% during the second quarter. Krilogy Financial LLC now owns 16,400 shares of the semiconductor company’s stock valued at $230,000 after buying an additional 450 shares during the period. SignalPoint Asset Management LLC grew its position in ON Semiconductor by 6.2% during the fourth quarter. SignalPoint Asset Management LLC now owns 42,473 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 2,461 shares during the period. Public Employees Retirement Association of Colorado grew its position in ON Semiconductor by 3.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 85,392 shares of the semiconductor company’s stock valued at $1,788,000 after buying an additional 2,658 shares during the period. IFP Advisors Inc grew its position in ON Semiconductor by 12.5% during the fourth quarter. IFP Advisors Inc now owns 25,896 shares of the semiconductor company’s stock valued at $542,000 after buying an additional 2,869 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. grew its position in ON Semiconductor by 6.0% during the third quarter. A. D. Beadell Investment Counsel Inc. now owns 51,500 shares of the semiconductor company’s stock valued at $951,000 after buying an additional 2,925 shares during the period. Institutional investors own 99.86% of the company’s stock.

ON has been the subject of several research reports. Robert W. Baird restated a “buy” rating and set a $25.00 price target on shares of ON Semiconductor in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, October 17th. Jefferies Group restated a “hold” rating and set a $20.00 price target on shares of ON Semiconductor in a research report on Thursday, October 19th. Citigroup set a $23.50 price target on shares of ON Semiconductor and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, KeyCorp restated a “hold” rating on shares of ON Semiconductor in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $23.99.

Shares of ON Semiconductor Corp (ON) opened at $20.81 on Friday. ON Semiconductor Corp has a fifty-two week low of $13.65 and a fifty-two week high of $25.60. The stock has a market cap of $9,357.02, a PE ratio of 19.02, a PEG ratio of 1.04 and a beta of 2.08. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 1.25.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. ON Semiconductor had a net margin of 14.63% and a return on equity of 23.64%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. research analysts predict that ON Semiconductor Corp will post 1.73 EPS for the current year.

In related news, EVP William Hall sold 22,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.86, for a total value of $538,830.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daryl Ostrander sold 1,398 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $19.10, for a total transaction of $26,701.80. Following the completion of the sale, the director now directly owns 64,060 shares in the company, valued at $1,223,546. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,246 shares of company stock worth $2,140,940. Insiders own 1.60% of the company’s stock.

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ON Semiconductor Company Profile

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.

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

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