ON Semiconductor Corporation (NASDAQ:ON) has recently experienced a significant reduction in position by DeepCurrents Investment Group LLC. According to the group’s filing with the Securities and Exchange Commission (SEC), it reduced its holdings in ON Semiconductor by 92.0% during the first quarter, selling 237,627 shares and owning only 20,730 shares of the company’s stock as of its most recent filing. The value of DeepCurrents Investment Group LLC’s holdings was estimated at $1,706,000.
ON Semiconductor, a leading semiconductor company, had previously announced its quarterly earnings results on July 31st. The company reported earnings per share (EPS) of $1.33 for the quarter, surpassing analysts’ consensus estimate of $1.21 by $0.12. It also demonstrated a net margin of 23.41% and a return on equity of 36.71%. ON Semiconductor recorded revenue of $2.09 billion during the quarter compared to an estimated consensus of $2.02 billion. This indicates a growth rate of .5% in revenue compared to the same period the previous year. Analysts forecast that ON Semiconductor Corporation will post an EPS of 5.25 for the current fiscal year.
In other news relating to ON Semiconductor Corporation, CEO Hassane El-Khoury sold 22,500 shares on June 15th at an average price of $91.42 per share, totaling $2,056,950 in value. Following this sale, El-Khoury now owns 551,312 shares valued at $50,400,943.04 as disclosed in a filing with the SEC accessible through their website.
The disclosure also reveals another sale made by CEO Hassane El-Khoury on June 15th when he sold an additional 22,500 shares at an average price of $91.42 per share amounting to a total transaction value of $2,056,950. Following this second sale, the CEO now owns 551,312 shares valued at approximately $50,400,943.04.
Furthermore, Director Paul Anthony Mascarenas sold 1,450 shares on June 27th at an average price of $88.63 per share with a total value of $128,513.50. Post-sale, the director possesses 46,757 shares in the company valuing at around $4,144,072.91.
Over the last 90 days preceding this information release, insiders of ON Semiconductor Corporation sold a total of 79,083 shares valued at $7,810,451. Currently, company insiders own 0.40% of the stock.
ON Semiconductor has seen significant activity in terms of stock ownership and insider selling transactions in recent months. Investors and analysts will be closely monitoring these developments as they provide insight into the performance and direction of the company moving forward.
It is worth noting that ON Semiconductor Corporation is a reputable player in the semiconductor industry known for its advanced technologies and comprehensive product portfolio. The company serves various markets including automotive applications, industrial power systems, and cloud-based data management. With a strong presence globally along with its talented team and robust financials demonstrated by its recent earnings announcement; ON Semiconductor remains well-positioned to navigate through market challenges and capitalize on future growth opportunities in its industry segment.
In conclusion, DeepCurrents Investment Group LLC has significantly reduced its position in ON Semiconductor Corporation during the first quarter. The recent earnings release shows positive results exceeding market expectations with impressive net profitability figures reported by ON Semiconductor Corporation. The insider selling activities reveal key transactions made by CEO Hassane El-Khoury and Director Paul Anthony Mascarenas that could potentially influence investor sentiment towards the company’s stock performance in the near future. It remains to be seen how these developments will impact ON Semiconductor as it continues to operate in the highly competitive and rapidly evolving semiconductor industry.
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Institutional Investors Show Confidence in ON Semiconductor as Stakeholdings Increase
In recent months, several institutional investors have made significant moves in their holdings of ON Semiconductor. MONECO Advisors LLC increased its stake in the company by 1.0% during the first quarter, now owning 14,817 shares valued at $1,220,000. Ballentine Partners LLC also saw growth in its stake, with an increase of 2.1% during the same period, resulting in ownership of 7,427 shares worth $611,000. Shaker Investments LLC OH and GAM Holding AG both experienced a modest growth of 1.0% in their stakes during the last quarter, owning 15,780 shares valued at $984,000 and 17,561 shares valued at $1,446,000 respectively. Similarly, ETF Managers Group LLC lifted its holdings by 1.5%, with ownership of 11,529 shares estimated at $949,000.
Undoubtedly indicating confidence in ON Semiconductor’s prospects and performance as these increased holdings suggest a recognition of the company’s potential for future growth.
As for its stock performance on Friday September 10th , ON traded down $0.59 per share to reach a value of $97.92 . The volume reached approximately 3.6 million traded shares throughout the day compared to an average volume indicator that records about4.57 million daily trades.
Commenting on the market capitalization of ON Semiconductor Corporation which today stands high at around$42.29 billion , it could be considered as one ofthe dominant key players within the semiconductor industry – providing innovative solutions and pushing boundaries within this dynamic sector.
The stock has shown an impressive trading range from its lowest point recorded over the past yearat $54.93 to a highest level settling approximately around$111.35.
Considering its valuation ratios; The price-to-earnings ratio is at a reasonable level standing at22.41 which states that financial gains are achievable relating to the price paid per each share compared to its performance and earnings throughout the fiscal year. Additionally, The price-to-earnings-growth ratio is estimated at 2.52 suggesting a reasonable trade-off between the stock price and its projected growth in earnings.
Although, Worth mentioning that this stock is equipped with relatively high periodic volatility as it has a beta measure estimated for this purpose having around1.78 which suggests that ON Semiconductor Corporation tends to be more volatile than the average stock found in this particular market segment.
Analyzing its financial position, there are some key indicators to consider such as the quick ratio and current ratio.A quick ratio indicates that ON Semiconductor Corporation is well-positioned financially because of their strong liquidity position they hold as they report a value of1.60 compared to a current ratio of2.39 , showing that ON Semiconductor can meet their short-term obligations effortlessly.
Furthermore, analysing the company’s capital structure through examining its debt-to-equity ratio which equals approximately0.37; signifying that a reasonable portion of total capital structureis financed by financial institutions which could be associated with increased business potential, profitabilityin addition to lower costof financingfacinga certain level of gearingsoignoring any undue risk allocated on shares.
Technically analyzing its bearish side,ON’s 50-day moving average is currently positioned around$98.10 whileits two-hundred day moving average stands higher at $87.39 . According to these technical indicators, the ongoing trend signals additional buying pressure; however,recent revealed data shows certainty eased bullish volume momentum— implying additional affirmation or deflection may occur prior witnessing clear directional bias.
Recently,research firms have issued their reports on ON.All enthusiasm surge evident as Benchmark–having INcreasedits target on shares from $110to $125– initiated subjection implement highly sought “BUY” rating during last month when delivery reports were finalized .Additionally,Piper Sandlerhas hiked its target price up to reach $135 from precedent$130 showing no reservations revealing ON’S bright perspective where Valuationperspectives according beyond average expectations are being noticed and potentiallyacademically evaluated . Not seeing back, The Goldman Sachs Group had also recommended at prior stage a buying opportunity posting anassertive “BUY” ratinggalement associating it by price peaking ataround$106 alongside raising its target from initial $95. Amidst this surge of optimism surrounding the company, Citigroup shares similar perspective by increasingits target per shareto $125. On Similar note Deutsche Bank Aktiengesellschaft’s initially provisioned targeted price was forecasted at $100 and transgressed that barrier at around June 2023.
Overall,Out of the top reputable ten analysts (Technical sectors) surveyed reporting in percentage % found over Bloomberg,categorically categorizing and evaluating investor acumen as challenging trade-off between risk-reward scenario allotted meeting expectation according certain accreditations they obtained have resulted on this “Management Structure; all minor concerns matter…Humility is enlightening key aspect when voicingvaluable assessment”.
In conclusion, ON Semiconductor has garnered increasing interest and confidence among institutional investors who are augmenting their stakes in the company. The stock continues to trade within a
