174,570 Shares in ON Semiconductor Corporation (ON) Purchased by Convergence Investment Partners LLC
Convergence Investment Partners LLC bought a new position in ON Semiconductor Corporation (NASDAQ:ON) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 174,570 shares of the semiconductor company’s stock, valued at approximately $3,224,000.
Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in shares of ON Semiconductor by 13.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,060 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 960 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of ON Semiconductor in the second quarter valued at $184,000. BB&T Securities LLC purchased a new position in shares of ON Semiconductor in the third quarter valued at $187,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of ON Semiconductor in the third quarter valued at $200,000. Finally, Airain ltd purchased a new position in shares of ON Semiconductor in the second quarter valued at $207,000. 99.82% of the stock is owned by institutional investors and hedge funds.
Shares of ON Semiconductor Corporation (ON) opened at $18.98 on Tuesday. The stock has a market capitalization of $8,423.86, a price-to-earnings ratio of 18.22, a P/E/G ratio of 0.75 and a beta of 2.02. ON Semiconductor Corporation has a 52 week low of $11.13 and a 52 week high of $22.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.97.
In other ON Semiconductor news, CEO Keith D. Jackson sold 476,191 shares of ON Semiconductor stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $19.59, for a total transaction of $9,328,581.69. Following the completion of the sale, the chief executive officer now owns 3,649,468 shares of the company’s stock, valued at $71,493,078.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bernard Raymond Colpitts, Jr. sold 2,058 shares of ON Semiconductor stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $16.80, for a total value of $34,574.40. Following the sale, the insider now directly owns 22,533 shares of the company’s stock, valued at approximately $378,554.40. The disclosure for this sale can be found here. Insiders have sold 740,243 shares of company stock valued at $14,692,763 in the last three months. 1.40% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on ON. B. Riley reiterated a “buy” rating and issued a $21.00 price target on shares of ON Semiconductor in a research report on Sunday, August 13th. Needham & Company LLC upgraded ON Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 7th. KeyCorp reiterated a “hold” rating on shares of ON Semiconductor in a research report on Tuesday, September 12th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $17.00 price target (up from $16.00) on shares of ON Semiconductor in a research report on Wednesday, August 9th. Finally, Mizuho reiterated a “buy” rating and issued a $24.00 price target (up from $19.00) on shares of ON Semiconductor in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $21.23.
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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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