Crown Advisors Management Inc. trimmed its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 50.0% during the third quarter, Holdings Channel reports. The fund owned 50,000 shares of the semiconductor company’s stock after selling 50,000 shares during the quarter. Crown Advisors Management Inc.’s holdings in ON Semiconductor were worth $922,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ON. LS Investment Advisors LLC bought a new position in shares of ON Semiconductor in the 2nd quarter worth about $109,000. Psagot Investment House Ltd. bought a new position in shares of ON Semiconductor in the 2nd quarter worth about $123,000. New Jersey Better Educational Savings Trust bought a new position in shares of ON Semiconductor in the 2nd quarter worth about $222,000. John G Ullman & Associates Inc. bought a new position in shares of ON Semiconductor in the 2nd quarter worth about $242,000. Finally, Creative Planning bought a new position in shares of ON Semiconductor in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 90.36% of the company’s stock.
A number of research firms recently weighed in on ON. ValuEngine cut shares of ON Semiconductor from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. BidaskClub raised shares of ON Semiconductor from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Raymond James cut shares of ON Semiconductor from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a report on Tuesday, September 25th. Morgan Stanley dropped their price objective on shares of ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday, October 30th. Finally, Zacks Investment Research cut shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ON Semiconductor presently has an average rating of “Hold” and a consensus target price of $24.57.
ON Semiconductor (NASDAQ:ON) last released its earnings results on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. ON Semiconductor’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. As a group, research analysts forecast that ON Semiconductor Corp will post 1.9 earnings per share for the current year.
In other news, Director Paul Anthony Mascarenas sold 9,100 shares of ON Semiconductor stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $18.16, for a total value of $165,256.00. Following the transaction, the director now owns 57,104 shares of the company’s stock, valued at approximately $1,037,008.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vince Craig Hopkin sold 3,172 shares of ON Semiconductor stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $21.66, for a total transaction of $68,705.52. Following the completion of the transaction, the executive vice president now directly owns 84,114 shares in the company, valued at approximately $1,821,909.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,494 shares of company stock worth $768,883. 1.60% of the stock is owned by corporate insiders.
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About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
Further Reading: Book Value Per Share – BVPS
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