ON Semiconductor Corporation (NASDAQ:ON) has been the object of insider selling activity recently. Daryl Ostrander, Director sold $286,807 worth of shares at an average price of $16.18 on Wed the 7th. Ostrander now owns $1,091,470 of stock as recorded in a recent Form 4 SEC filing. George H. Cave, EVP, Gen Cnsl, CC&EO, & Sec reported the sale of 15,000 shares of ON stock. The shares were purchased at an average price of $16.09. Cave now owns $4,057,222 of the stock according to the SEC filing.
Paul E. Rolls, Exec VP Sales & Marketing let go of $160,000 worth of shares at an average price of $16.00 on Mon the 5th. That brings Rolls’s holdings to $4,161,616 as reported to the SEC.
ON Semiconductor Corporation, launched on June 22, 2000, offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Business’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Business’s power management and motor driver semiconductor components control, convert, protect and monitor the supply of power to the different elements within a range of electronic devices. Its custom application specific integrated circuits (ASICs) use analog, microcontroller Unit (MCU), digital signal processor (DSP), mixed-signal and logic capabilities to act as the brain behind many of its automotive, medical, aerospace/defense, consumer and industrial customers’ products. Its signal management semiconductor components provide clock management and data flow management for precision computing, communications and industrial systems. Its portfolio of sensors, optical image stabilization and auto focus devices provide solutions for automotive, wireless, industrial and consumer applications. Its standard semiconductor components serve as building blocks within virtually all types of electronic devices..
Here are some other firms who have updated their holdings. Clearbridge Investments, LLC cut its investment by selling 125,004 shares a decrease of 49.6% in the quarter. Clearbridge Investments, LLC currently owns 127,088 shares valued at $1,969,000. The value of the position overall is down by 38.8%. Piedmont Investment Advisors LLC added to its holdings by buying 7,287 shares an increase of 22.3% as of 03/31/2017. Piedmont Investment Advisors LLC now controls 39,901 shares worth $618,000. The total value of its holdings increased 48.6%.
As of quarter end Proficio Capital Partners LLC had bought a total of 266 shares growing its holdings by 147.0%. The value of the investment in (ON) increased from $2,000 to $7,000 increasing 250.0% quarter to quarter. As of the end of the quarter Fny Managed Accounts LLC had disposed of 105,855 shares trimming its position 99.8%. The value of the total investment in ON Semiconductor Corporation went from $1,306,000 to $3,000 a change of $1,303,000 since the last quarter.
Equity analyst Loop Capital starting coverage on ON giving it an initial rating of “Buy”. On October 3 the company was rated “Overweight” by Stephens & Co. which was a boost from the previous “” rating.
On September 22 the company was upgraded from “” to “” in a report from Morgan Stanley. September 20 investment analysts at Jefferies maintained a stock rating of “Hold” but moved up the price target from $12.50 to $13.00.
On September 20 analysts at Deutsche Bank started covering ON by announcing an initial rating of “Buy”. On August 24, 2016 the stock rating was changed to a “Buy” according to a Longbow Research report up from the previous “” rating.
The company is trading down from yesterday’s close of $16.65. The stock is trading at $16.10 slightly over the 50 day moving average of $15.08 and which is marginally over the 200 day moving average of $14.21. The 50 day moving average was up $1.02 and the 200 day average moved up $1.89.
The most current P/E ratio is 30.96 and the market cap is 6.77B. In the last earnings report the EPS was $0.52 and is expected to be $1.29 for the current year with 420,741,000 shares outstanding. Next quarter’s EPS is expected be $0.36 and the next full year EPS is anticipated to be $1.50.
Investors are a little more bearish on ON Semiconductor Corporation lately if you watch the increase in short interest. The stock experienced a rise in short interest from May 15, 2017 to April 28, 2017 of 15.85%. Short shares increased 2,431,121 over that timeframe. With short interest at 17,773,233 and short average daily volume at 5,855,920, days to cover is 3.0 and the percentage of shorted shares is 0.04% as of April 28.