CIBC Private Wealth Group LLC boosted its holdings in shares of ON Semiconductor Corp (NASDAQ:ON – Get Rating) by 1,981.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,499 shares of the semiconductor company’s stock after buying an additional 305,100 shares during the period. CIBC Private Wealth Group LLC’s holdings in ON Semiconductor were worth $21,769,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ON. Alliancebernstein L.P. grew its stake in shares of ON Semiconductor by 156.3% in the 3rd quarter. Alliancebernstein L.P. now owns 6,612,897 shares of the semiconductor company’s stock worth $302,672,000 after acquiring an additional 4,032,943 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of ON Semiconductor by 33.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 12,364,971 shares of the semiconductor company’s stock worth $565,944,000 after acquiring an additional 3,100,451 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ON Semiconductor by 63.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 6,120,331 shares of the semiconductor company’s stock worth $280,128,000 after acquiring an additional 2,375,248 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new position in ON Semiconductor during the fourth quarter valued at about $141,818,000. Finally, Crake Asset Management LLP grew its position in ON Semiconductor by 72.6% during the third quarter. Crake Asset Management LLP now owns 2,412,253 shares of the semiconductor company’s stock valued at $110,409,000 after buying an additional 1,014,360 shares during the period. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Several research firms recently weighed in on ON. Susquehanna Bancshares increased their price target on shares of ON Semiconductor from $65.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, February 8th. UBS Group increased their target price on shares of ON Semiconductor from $55.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 8th. Bank of America increased their target price on shares of ON Semiconductor from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. Jefferies Financial Group increased their price target on shares of ON Semiconductor from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 8th. Finally, Credit Suisse Group increased their price target on shares of ON Semiconductor from $52.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, February 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $66.03.
ON Semiconductor (NASDAQ:ON – Get Rating) last announced its earnings results on Monday, February 7th. The semiconductor company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.15. ON Semiconductor had a return on equity of 31.73% and a net margin of 14.98%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $0.35 EPS. ON Semiconductor’s revenue for the quarter was up 27.6% compared to the same quarter last year. Equities research analysts anticipate that ON Semiconductor Corp will post 4.18 EPS for the current year.
In other ON Semiconductor news, EVP Vince Craig Hopkin sold 3,000 shares of the stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $65.59, for a total value of $196,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Simon Keeton sold 4,055 shares of the firm’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $55.07, for a total value of $223,308.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,055 shares of company stock worth $3,162,479. 1.42% of the stock is owned by 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.
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