Rafferty Asset Management LLC Cuts Holdings in ON Semiconductor Corporation $ON

Rafferty Asset Management LLC decreased its position in ON Semiconductor Corporation (NASDAQ:ON) by 34.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,815,754 shares of the semiconductor company’s stock after selling 2,021,748 shares during the period. Rafferty Asset Management LLC owned 0.95% of ON Semiconductor worth $188,155,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of ON Semiconductor by 0.5% during the second quarter. Vanguard Group Inc. now owns 51,367,704 shares of the semiconductor company’s stock valued at $2,692,181,000 after acquiring an additional 243,238 shares during the last quarter. Ameriprise Financial Inc. grew its stake in ON Semiconductor by 7.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company’s stock valued at $639,716,000 after purchasing an additional 877,533 shares during the period. Geode Capital Management LLC increased its position in shares of ON Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,296,301 shares of the semiconductor company’s stock valued at $590,383,000 after purchasing an additional 77,795 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of ON Semiconductor by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,889,080 shares of the semiconductor company’s stock worth $284,737,000 after purchasing an additional 53,748 shares during the period. Finally, Norges Bank purchased a new position in shares of ON Semiconductor in the 2nd quarter worth about $228,835,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Transactions at ON Semiconductor

In related news, CFO Trent Thad sold 60,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $71.22, for a total value of $4,273,200.00. Following the completion of the sale, the chief financial officer directly owned 339,460 shares of the company’s stock, valued at approximately $24,176,341.20. This represents a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $73.02, for a total transaction of $1,460,400.00. Following the sale, the chief executive officer owned 1,015,610 shares in the company, valued at approximately $74,159,842.20. The trade was a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 100,000 shares of company stock valued at $6,834,600. Company insiders own 0.31% of the company’s stock.

Key Stories Impacting ON Semiconductor

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: Q4 beat on EPS and healthy balance sheet — ON reported $0.64 EPS vs. ~$0.62 consensus (a slight beat) and shows strong liquidity (quick ratio ~2.98, current ratio ~4.52, debt/equity ~0.39). That beat and the clean balance sheet support the stock versus a larger downside.
• Neutral Sentiment: Sector context — broader semiconductor index coverage and investor attention on the PHLX Semiconductor Index (SOX) can amplify moves in ON as traders rotate across chip names; refresh on the SOX index and its components here. PHLX Semiconductor Index (SOX): Key Definition and Companies
• Negative Sentiment: Revenue decline and cautious near-term outlook — ON’s revenue fell ~11.2% year-over-year and it missed revenue consensus narrowly while guiding Q1 FY2026 EPS to a range of $0.56–$0.66. The combination of slowing sales, modest revenue miss and cautious guidance prompted profit-taking, especially given a rich valuation (trailing P/E ~195 on current price).

ON Semiconductor Stock Down 2.5%

Shares of ON stock opened at $66.48 on Friday. ON Semiconductor Corporation has a 12 month low of $31.04 and a 12 month high of $73.76. The stock has a market cap of $26.19 billion, a P/E ratio of 195.54, a P/E/G ratio of 0.72 and a beta of 1.56. The company has a current ratio of 4.52, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $62.56 and a two-hundred day simple moving average of $54.68.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 9th. The semiconductor company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. ON Semiconductor had a net margin of 2.02% and a return on equity of 12.22%. The company’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. On average, research analysts expect that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.

ON Semiconductor announced that its board has initiated a stock repurchase plan on Tuesday, November 18th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 32.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ON shares. Citigroup raised their price objective on shares of ON Semiconductor from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Weiss Ratings lowered shares of ON Semiconductor from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 30th. Williams Trading set a $60.00 price objective on ON Semiconductor in a research note on Tuesday, November 4th. Evercore reissued an “outperform” rating on shares of ON Semiconductor in a research report on Wednesday, January 7th. Finally, UBS Group restated a “neutral” rating on shares of ON Semiconductor in a research note on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.19.

About ON Semiconductor

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.