State of New Jersey Common Pension Fund D Cuts Stock Position in ON Semiconductor Corporation $ON

State of New Jersey Common Pension Fund D lessened its stake in shares of ON Semiconductor Corporation (NASDAQ:ON) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,566 shares of the semiconductor company’s stock after selling 3,468 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ON Semiconductor were worth $7,262,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Ameriprise Financial Inc. raised its position in ON Semiconductor by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 11,328,463 shares of the semiconductor company’s stock worth $460,958,000 after buying an additional 110,735 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ON Semiconductor by 15.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,835,332 shares of the semiconductor company’s stock worth $312,774,000 after purchasing an additional 774,087 shares in the last quarter. Baillie Gifford & Co. purchased a new position in ON Semiconductor during the first quarter worth about $219,001,000. Charles Schwab Investment Management Inc. raised its stake in shares of ON Semiconductor by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,544,230 shares of the semiconductor company’s stock worth $103,525,000 after buying an additional 55,976 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of ON Semiconductor by 2,735.5% during the 1st quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company’s stock worth $87,330,000 after buying an additional 2,070,529 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ON. Citigroup cut their target price on ON Semiconductor from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, August 5th. Benchmark reiterated a “buy” rating and issued a $60.00 price objective (up previously from $50.00) on shares of ON Semiconductor in a research report on Tuesday, August 5th. Truist Financial increased their price target on shares of ON Semiconductor from $43.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday, August 5th. TD Cowen cut their price target on shares of ON Semiconductor from $68.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.75.

Insiders Place Their Bets

In other ON Semiconductor news, CEO Hassane El-Khoury sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.22, for a total transaction of $768,300.00. Following the completion of the transaction, the chief executive officer owned 977,814 shares of the company’s stock, valued at approximately $50,083,633.08. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

ON Semiconductor Stock Performance

NASDAQ:ON opened at $50.71 on Monday. The company has a current ratio of 5.02, a quick ratio of 3.37 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $50.08 and a two-hundred day moving average price of $48.90. ON Semiconductor Corporation has a twelve month low of $31.04 and a twelve month high of $76.06. The company has a market capitalization of $20.74 billion, a P/E ratio of 47.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.49.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.96 earnings per share. The business’s revenue was down 15.4% compared to the same quarter last year. ON Semiconductor has set its Q3 2025 guidance at 0.540-0.640 EPS. As a group, research analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current fiscal year.

ON Semiconductor Company Profile

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.