ON Semiconductor Co. (NASDAQ:ON) Short Interest Update


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ON Semiconductor Co. (NASDAQ:ON) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 13,250,000 shares, a decrease of 27.2% from the March 31st total of 18,190,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 6,820,000 shares, the days-to-cover ratio is currently 1.9 days.

A number of brokerages have commented on ON. KeyCorp upped their price target on ON Semiconductor from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 2nd. Robert W. Baird upgraded ON Semiconductor from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $48.00 in a research report on Tuesday. Raymond James upped their price target on ON Semiconductor from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 2nd. Citigroup upped their price objective on ON Semiconductor from $41.50 to $45.00 in a research note on Tuesday. Finally, Craig Hallum upped their price objective on ON Semiconductor from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.40.

In related news, Director Emmanuel T. Hernandez sold 74,165 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $37.73, for a total transaction of $2,798,245.45. Following the completion of the sale, the director now owns 103,461 shares in the company, valued at $3,903,583.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vince Craig Hopkin sold 1,000 shares of the company’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $39.26, for a total value of $39,260.00. Following the sale, the executive vice president now owns 133,924 shares of the company’s stock, valued at approximately $5,257,856.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,413 shares of company stock worth $4,464,308. Corporate insiders own 1.42% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ON. Stephenson National Bank & Trust increased its holdings in ON Semiconductor by 4.7% during the 1st quarter. Stephenson National Bank & Trust now owns 6,178 shares of the semiconductor company’s stock worth $257,000 after purchasing an additional 279 shares during the period. AE Wealth Management LLC increased its holdings in ON Semiconductor by 1.1% during the 4th quarter. AE Wealth Management LLC now owns 27,616 shares of the semiconductor company’s stock worth $904,000 after purchasing an additional 292 shares during the period. Eaton Vance Management increased its holdings in ON Semiconductor by 0.3% during the 4th quarter. Eaton Vance Management now owns 99,826 shares of the semiconductor company’s stock worth $3,267,000 after purchasing an additional 335 shares during the period. BOKF NA increased its holdings in ON Semiconductor by 0.8% during the 1st quarter. BOKF NA now owns 45,379 shares of the semiconductor company’s stock worth $1,888,000 after purchasing an additional 374 shares during the period. Finally, Strs Ohio increased its holdings in ON Semiconductor by 1.3% during the 4th quarter. Strs Ohio now owns 44,631 shares of the semiconductor company’s stock worth $1,460,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Shares of NASDAQ:ON traded down $0.69 during trading on Tuesday, hitting $36.88. The company had a trading volume of 874,690 shares, compared to its average volume of 7,090,835. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 74.41, a price-to-earnings-growth ratio of 5.67 and a beta of 1.99. ON Semiconductor has a one year low of $13.48 and a one year high of $44.59. The company has a fifty day simple moving average of $41.30 and a two-hundred day simple moving average of $35.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.11 and a quick ratio of 1.40.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Sunday, May 2nd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. ON Semiconductor had a return on equity of 9.92% and a net margin of 3.87%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. On average, equities research analysts anticipate that ON Semiconductor will post 0.77 earnings per share for the current year.

About ON Semiconductor

ON Semiconductor Corporation, together with its subsidiaries, manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group (PSG), Advanced Solutions Group (ASG), and Intelligent Sensing Group (ISG). The PSG segment offers analog, discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions.

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