Truist Financial Corp has sold 30,711 shares of ON Semiconductor Corporation, reducing its holdings by 13.5% during the first quarter. The company now holds 196,763 shares, which are worth $16,198,000.
Other large investors have also made changes to their stakes. Vanguard Group Inc. increased its holdings in ON Semiconductor by 3.7%, Geode Capital Management LLC raised its stake by 1.3%, and Moneta Group Investment Advisors LLC increased its holdings by over 122,000%. Alliancebernstein L.P. also saw a 114.5% increase in its holdings, while Norges Bank acquired a new position.
Wall Street analysts have given ON Semiconductor positive forecasts. Several research firms have raised their price targets for the company. BMO Capital Markets, Rosenblatt Securities, Jefferies Financial Group, Mizuho, and B. Riley have all given the stock positive ratings.
ON Semiconductor’s stock performance has been strong recently, with shares opening at $101.38. The stock has a 50-day moving average price of $95.34 and a 200-day moving average price of $84.84. Its market cap is $43.78 billion, with a PE ratio of 23.20.
The company recently reported earnings of $1.33 per share for the quarter, beating the consensus estimate of $1.21. It had revenue of $2.09 billion, up 0.5% from the same quarter last year.
Insiders have also made moves with ON Semiconductor’s stock. EVP Simon Keeton sold 9,923 shares at an average price of $109.74, while CEO Hassane El-Khoury sold 22,500 shares at an average price of $90.01.
ON Semiconductor is a supplier of power and analog semiconductors, with a focus on automotive and industrial end-markets. The company operates through three segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.
Source: fagenwasanni.com
