California Public Employees Retirement System Cuts Holdings in ON Semiconductor Corporation $ON

California Public Employees Retirement System reduced its holdings in ON Semiconductor Corporation (NASDAQ:ON) by 20.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,478,254 shares of the semiconductor company’s stock after selling 388,321 shares during the quarter. California Public Employees Retirement System’s holdings in ON Semiconductor were worth $72,893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ON. Boothbay Fund Management LLC lifted its holdings in ON Semiconductor by 272.4% in the third quarter. Boothbay Fund Management LLC now owns 22,507 shares of the semiconductor company’s stock valued at $1,110,000 after acquiring an additional 16,463 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of ON Semiconductor by 6.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,006,653 shares of the semiconductor company’s stock worth $49,638,000 after purchasing an additional 63,481 shares during the period. Polar Asset Management Partners Inc. purchased a new position in shares of ON Semiconductor in the 3rd quarter valued at about $266,000. Credit Agricole S A acquired a new stake in shares of ON Semiconductor in the third quarter valued at about $1,592,000. Finally, One Capital Management LLC boosted its holdings in ON Semiconductor by 69.5% during the third quarter. One Capital Management LLC now owns 27,757 shares of the semiconductor company’s stock worth $1,369,000 after buying an additional 11,378 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

ON Semiconductor Price Performance

Shares of NASDAQ ON opened at $59.88 on Tuesday. 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’s 50-day moving average price is $63.67 and its 200 day moving average price is $55.49. ON Semiconductor Corporation has a 52 week low of $31.04 and a 52 week high of $73.76. The stock has a market cap of $23.59 billion, a price-to-earnings ratio of 176.12, a PEG ratio of 0.62 and a beta of 1.52.

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

ON Semiconductor announced that its board has approved a share 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ON. Citigroup upped their target price on shares of ON Semiconductor from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. B. Riley Financial lifted their price target on shares of ON Semiconductor from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Barclays assumed coverage on shares of ON Semiconductor in a research report on Thursday, February 12th. They set an “equal weight” rating and a $75.00 price target for the company. Rosenblatt Securities upped their price target on ON Semiconductor from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Evercore reaffirmed an “outperform” rating on shares of ON Semiconductor in a research note on Wednesday, January 7th. Twelve research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.19.

Insider Transactions at ON Semiconductor

In related news, CEO Hassane El-Khoury sold 20,000 shares of ON Semiconductor 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 completion of the transaction, the chief executive officer directly owned 1,015,610 shares in the company, valued at $74,159,842.20. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sudhir Gopalswamy sold 6,114 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.67, for a total value of $358,708.38. Following the completion of the sale, the insider directly owned 173,943 shares in the company, valued at approximately $10,205,235.81. The trade was a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,114 shares of company stock valued at $6,092,308 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Trending Headlines about ON Semiconductor

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

• Positive Sentiment: None in the past 24–36 hours.
• Neutral Sentiment: Latest reported quarter: ON posted $0.64 EPS (beat by ~$0.02) on revenue roughly in line with expectations and issued Q1 2026 EPS guidance of $0.560–0.660 — a near-term fundamental anchor that investors cite when valuing the shares. MarketBeat ON profile & recent results
• Negative Sentiment: Insider sale disclosed: Sudhir Gopalswamy sold 6,114 ON shares on Mar 13 at an average price of $58.67 (SEC filing). Insider selling can be interpreted as a mild negative signal about near-term insider conviction. SEC filing for insider sale
• Negative Sentiment: Analyst action: Wall Street Zen recently lowered ON’s rating to “Hold” (reported Mar 15). A downgrade can reduce buying pressure from sentiment-driven traders and may weigh on short-term momentum. American Banking News: Rating lowered to Hold

ON Semiconductor Profile

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.