Teacher Retirement System of Texas grew its holdings in ON Semiconductor Co. (NASDAQ:ON) by 514.0% in the 1st quarter, Holdings Channel reports. The fund owned 230,383 shares of the semiconductor company’s stock after purchasing an additional 192,864 shares during the quarter. Teacher Retirement System of Texas’ holdings in ON Semiconductor were worth $9,586,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. bought a new stake in shares of ON Semiconductor in the fourth quarter valued at approximately $27,000. Focused Wealth Management Inc bought a new stake in shares of ON Semiconductor in the first quarter valued at approximately $37,000. Jackson Grant Investment Advisers Inc. bought a new position in ON Semiconductor in the fourth quarter worth $32,000. MPS Loria Financial Planners LLC bought a new position in ON Semiconductor in the first quarter worth $41,000. Finally, Berman Capital Advisors LLC lifted its position in ON Semiconductor by 101.0% in the first quarter. Berman Capital Advisors LLC now owns 1,009 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 507 shares during the period. 93.62% of the stock is owned by institutional investors.
ON has been the subject of several research reports. Robert W. Baird raised ON Semiconductor from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $38.00 to $48.00 in a research report on Tuesday, May 4th. Bank of America raised ON Semiconductor from an “underperform” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Monday, March 1st. Summit Insights cut ON Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, February 16th. Susquehanna Bancshares raised their target price on ON Semiconductor from $45.00 to $46.00 and gave the stock a “positive” rating in a research report on Tuesday, May 4th. Finally, Susquehanna increased their price objective on ON Semiconductor from $45.00 to $46.00 and gave the stock a “positive” rating in a research note on Tuesday, May 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $39.93.
Shares of ON stock opened at $37.77 on Friday. The stock has a 50-day moving average price of $39.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.84. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of 47.81 and a beta of 1.89. ON Semiconductor Co. has a 12 month low of $18.05 and a 12 month high of $44.59.
ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Sunday, May 2nd. The semiconductor company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm 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 13.23% and a net margin of 6.19%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. On average, analysts expect that ON Semiconductor Co. will post 1.93 EPS 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.
Further Reading: Candlestick
Want to see what other hedge funds are holding ON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ON Semiconductor Co. (NASDAQ:ON).
Receive News & Ratings for ON Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.