Nordea Investment Management AB, a financial services company based in Sweden, has recently reduced its holdings in ON Semiconductor Corporation. According to the company’s latest filing with the Securities and Exchange Commission (SEC), Nordea Investment Management AB sold 94,174 shares of ON Semiconductor, resulting in a decrease of 14.7% of its total holdings in the second quarter of this year.
Prior to the sale, Nordea Investment Management AB owned 545,560 shares of ON Semiconductor’s stock. The value of these shares was estimated at $51,184,000 at the end of the quarter. However, after selling their shares, their ownership now amounts to approximately 0.13% worth of ON Semiconductor.
In addition to Nordea Investment Management AB’s actions, there have also been notable insider transactions involving ON Semiconductor’s stocks. Director Paul Anthony Mascarenas sold 1,450 shares on June 27th at an average price of $88.63 per share, resulting in a total transaction value of $128,513.50. Following this sale, Mascarenas still holds 46,757 shares in the company which are valued at $4,144,072.91.
Further insider activity includes Chief Accounting Officer Bernard Raymond Colpitts Jr., who sold 2,795 shares on September 11th for an average price of $99.18 per share. This transaction amounted to a total value of $277,208.10. After this sale, Colpitts now possesses 32,050 shares worth approximately $3,178,719.
It is important to note that these transactions were reported through legally required filings with the SEC and can be accessed by interested parties through online links provided.
Overall, insiders within ON Semiconductor have sold a total of 59,378 company shares over the past three months alone amounting to a value of $6,030,709. This equates to approximately 0.40% of the company’s total stock ownership.
By analyzing these filings, investors and market observers can gain insights into the behavior and sentiments of both insiders and institutional investors like Nordea Investment Management AB. Such information may be useful for making informed decisions regarding investment strategies in ON Semiconductor Corporation or related companies in the semiconductor industry.
In conclusion, Nordea Investment Management AB has reduced its holdings in ON Semiconductor Corporation, while various insiders have conducted transactions involving the company’s stocks. These events indicate shifting dynamics within ON Semiconductor’s ownership structure, potentially providing valuable insight to investors and analysts in assessing the company’s performance and future outlook.
[bs_slider_forecast ticker=”TEL”]
ON Semiconductor: Strong Investor Interest and Positive Performance Position It for Growth in the Semiconductor Industry
ON Semiconductor, a leading semiconductor company, has attracted the attention of several institutional investors and hedge funds. These investors have been actively buying and selling shares of ON Semiconductor, indicating their confidence in the company’s potential.
FinTrust Capital Advisors LLC recently purchased a new position in ON Semiconductor during the fourth quarter, investing approximately $25,000. Similarly, Householder Group Estate & Retirement Specialist LLC acquired a new position in the first quarter worth around $26,000. SOA Wealth Advisors LLC also increased its stake in ON Semiconductor by 100% during the same period, now owning 400 shares valued at $33,000 after purchasing an additional 200 shares. Additionally, Ancora Advisors LLC entered a new position in ON Semiconductor during the first quarter with an investment of approximately $33,000. Compagnie Lombard Odier SCmA bought shares worth about $42,000 during the fourth quarter. These transactions indicate strong interest from hedge funds and other institutional investors who currently own 96.36% of ON Semiconductor’s stock.
A number of research analysts have recently evaluated ON Semiconductor and provided their perspectives on its performance. Susquehanna raised their price objective to $130.00 and rated the company as “positive” in a research report on August 1st. Wells Fargo & Company also increased their target price to $120.00 and gave ON Semiconductor an “overweight” rating on July 24th. KeyCorp adjusted their target price from $110.00 to $125.00 and maintained an “overweight” rating on August 1st. Additionally, Mizuho raised their target price to $120.00 and rated the company as a “buy” on August 1st. StockNews.com initiated coverage with a “hold” rating on August 17th.
Currently, ten analysts have given a hold rating while eighteen analysts have issued buy ratings for ON Semiconductor’s stock. With a consensus rating of “Moderate Buy” and an average price target of $109.31, the company appears to be a favorable investment opportunity according to Bloomberg’s analysis.
On Monday, shares of ON Semiconductor (NASDAQ:ON) opened at $93.10. The company’s 50-day moving average stands at $98.27, while the two-hundred day moving average is $88.11. ON Semiconductor has a debt-to-equity ratio of 0.37 and a current ratio of 2.39, indicating its strong financial position to meet current obligations. The stock had a low of $54.93 and a high of $111.35 over the past year, highlighting its potential for growth in value. With a market capitalization of $40.21 billion and a price-earnings ratio of 21.30, ON Semiconductor is well-established in the industry.
In its recent earnings report released on July 31st, ON Semiconductor surpassed analysts’ expectations by reporting earnings per share (EPS) of $1.33 compared to the consensus estimate of $1.21 EPS, representing an increase of $0.12 EPS. The company also demonstrated a return on equity (ROE) of 36.71% and achieved a net margin of 23.41%. ON Semiconductor generated revenue totaling $2.09 billion for the quarter, exceeding analysts’ projections of $2.02 billion in revenue.
Analysts predict that ON Semiconductor will post an EPS of 5.25 for the current year based on its solid performance so far.
Given its positive investor sentiment, strong analyst ratings, and impressive quarterly earnings results, ON Semiconductor has positioned itself as an attractive investment option in the semiconductor industry moving forward into September 18, 2023.
