Chicago Equity Partners LLC Trims Holdings in ON Semiconductor Corp (ON)

Chicago Equity Partners LLC trimmed its position in shares of ON Semiconductor Corp (NASDAQ:ON) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,215 shares of the semiconductor company’s stock after selling 75,950 shares during the period. Chicago Equity Partners LLC owned 0.05% of ON Semiconductor worth $3,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of ON Semiconductor by 1.0% in the third quarter. Vanguard Group Inc. now owns 43,093,027 shares of the semiconductor company’s stock worth $794,204,000 after acquiring an additional 411,056 shares during the period. Vanguard Group Inc boosted its holdings in shares of ON Semiconductor by 1.0% in the third quarter. Vanguard Group Inc now owns 43,093,027 shares of the semiconductor company’s stock worth $794,204,000 after acquiring an additional 411,056 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of ON Semiconductor by 1.9% in the third quarter. Janus Henderson Group PLC now owns 30,624,004 shares of the semiconductor company’s stock worth $564,401,000 after acquiring an additional 578,266 shares during the period. Capital International Investors boosted its holdings in shares of ON Semiconductor by 9.0% in the third quarter. Capital International Investors now owns 20,741,159 shares of the semiconductor company’s stock worth $382,260,000 after acquiring an additional 1,712,102 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of ON Semiconductor by 24.1% in the third quarter. Pictet Asset Management Ltd. now owns 11,721,514 shares of the semiconductor company’s stock worth $216,028,000 after acquiring an additional 2,278,586 shares during the period. 91.42% of the stock is owned by institutional investors and hedge funds.

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In other ON Semiconductor news, EVP William Hall sold 16,063 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $17.73, for a total transaction of $284,796.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Paul E. Rolls sold 31,487 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $20.00, for a total value of $629,740.00. The disclosure for this sale can be found here. Insiders have sold 94,470 shares of company stock worth $1,857,057 in the last 90 days. Company insiders own 1.29% of the company’s stock.

NASDAQ ON opened at $22.24 on Tuesday. ON Semiconductor Corp has a twelve month low of $14.55 and a twelve month high of $27.10. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.82. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.06 and a beta of 2.06.

ON Semiconductor announced that its board has authorized a share buyback plan on Thursday, November 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 20.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Several equities research analysts recently issued reports on ON shares. Robert W. Baird reissued a “buy” rating and set a $28.00 price objective on shares of ON Semiconductor in a research note on Wednesday, January 9th. Citigroup dropped their price objective on ON Semiconductor from $28.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Nomura dropped their price objective on ON Semiconductor from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Craig Hallum reissued a “buy” rating and set a $25.00 price objective (down previously from $31.00) on shares of ON Semiconductor in a research note on Tuesday, October 30th. Finally, ValuEngine raised ON Semiconductor from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. ON Semiconductor presently has an average rating of “Hold” and an average price target of $24.42.

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ON Semiconductor Company Profile

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.

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