State Board of Administration of Florida Retirement System Has $11.61 Million Position in ON Semiconductor Corp (ON)

State Board of Administration of Florida Retirement System lessened its stake in shares of ON Semiconductor Corp (NASDAQ:ON) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 703,050 shares of the semiconductor company’s stock after selling 4,421 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.17% of ON Semiconductor worth $11,607,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Xact Kapitalforvaltning AB increased its holdings in shares of ON Semiconductor by 30.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 65,651 shares of the semiconductor company’s stock worth $1,084,000 after purchasing an additional 15,227 shares in the last quarter. NF Trinity Capital Hong Kong Ltd increased its holdings in shares of ON Semiconductor by 51.9% in the 4th quarter. NF Trinity Capital Hong Kong Ltd now owns 813,622 shares of the semiconductor company’s stock worth $13,433,000 after purchasing an additional 278,000 shares in the last quarter. Regentatlantic Capital LLC increased its holdings in shares of ON Semiconductor by 3.8% in the 4th quarter. Regentatlantic Capital LLC now owns 325,682 shares of the semiconductor company’s stock worth $5,377,000 after purchasing an additional 11,989 shares in the last quarter. Teton Advisors Inc. increased its holdings in shares of ON Semiconductor by 6.4% in the 4th quarter. Teton Advisors Inc. now owns 26,620 shares of the semiconductor company’s stock worth $439,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Caption Management LLC bought a new stake in shares of ON Semiconductor in the 4th quarter worth $1,320,000. 91.42% of the stock is owned by institutional investors.

Shares of NASDAQ ON opened at $22.24 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.82. ON Semiconductor Corp has a 1-year low of $14.55 and a 1-year high of $27.10. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.06 and a beta of 2.06.

ON Semiconductor announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 20.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

A number of research firms have recently issued reports on ON. ValuEngine downgraded ON Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Craig Hallum restated a “buy” rating and issued a $25.00 price target (down from $31.00) on shares of ON Semiconductor in a research note on Tuesday, October 30th. Morgan Stanley dropped their price target on ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating on the stock in a research note on Tuesday, October 30th. BMO Capital Markets assumed coverage on ON Semiconductor in a research note on Monday, November 12th. They issued a “market perform” rating and a $20.00 price target on the stock. Finally, BidaskClub upgraded ON Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.42.

In other news, Director Daryl Ostrander sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $18.01, for a total transaction of $72,040.00. Following the transaction, the director now owns 85,135 shares of the company’s stock, valued at $1,533,281.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gilles Delfassy sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $17.10, for a total value of $34,200.00. Following the transaction, the director now directly owns 37,869 shares in the company, valued at approximately $647,559.90. The disclosure for this sale can be found here. Insiders have sold 94,470 shares of company stock worth $1,857,057 over the last three months. 1.29% of the stock is currently owned by insiders.

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ON Semiconductor Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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