In the second quarter, BTC Capital Management Inc. revealed its new acquisition of 4,817 shares in ON Semiconductor Corporation (NASDAQ:ON), according to a recent disclosure submitted to the Securities and Exchange Commission (SEC). The value of this position is estimated to be around $487,000.

This move by BTC Capital Management Inc., a renowned financial institution, showcases their confidence in ON Semiconductor Corporation’s potential for growth and profitability. It also highlights the attractiveness of the semiconductor industry as an investment opportunity.

ON Semiconductor Corporation recently announced its quarterly earnings data on July 31st, providing further insight into the company’s financial performance. During this period, the semiconductor company reported earnings per share (EPS) of $1.33, surpassing the consensus estimate of $1.21 by $0.12.

The strong EPS figures indicate that ON Semiconductor Corporation has managed to exceed analysts’ expectations, demonstrating its ability to generate substantial profits from its operations. Furthermore, the return on equity for the company stands at an impressive 36.71%, emphasizing its efficient utilization of shareholder investments.

With respect to revenue, ON Semiconductor Corporation recorded $2.09 billion during the quarter compared to the consensus estimate of $2.02 billion. Although a relatively small increase in revenue was observed at only 0.5% year-over-year, it still signals consistent growth for the company.

By consistently outperforming market expectations and maintaining healthy profit margins—23.41% net margin in this case—ON Semiconductor Corporation continues to solidify its position within the semiconductor industry.

On average, equities research analysts predict that ON Semiconductor Corporation will achieve an EPS of 5.25 for this year. This forecast reflects positive sentiments towards continued growth and success for the company moving forward.

Investors and market participants alike will likely closely monitor any future developments surrounding ON Semiconductor Corporation given these optimistic indicators. Financial institutions like BTC Capital Management Inc., who have identified potential in ON Semiconductor Corporation, could influence market sentiment and further bolster the company’s stock performance.

In conclusion, BTC Capital Management Inc.’s recent acquisition of shares in ON Semiconductor Corporation highlights the attractive investment opportunities within the semiconductor industry. The positive quarterly earnings report and analyst forecasts further support the notion of steady growth for the company. As such, attention from investors and analysts will likely continue to focus on ON Semiconductor Corporation in the coming months as its performance is monitored closely.

ON Semiconductor Corporation Sees Strong Investor Activity and Positive Market Sentiment

September 19, 2023 – ON Semiconductor Corporation, a leading global supplier of semiconductor solutions, has seen significant activity from large investors who have modified their holdings of the company. These investment changes highlight the interest and confidence that institutional investors have in the company’s future prospects.

One notable investor is Continuum Advisory LLC, which recently acquired a new position in shares of ON Semiconductor during the fourth quarter. The purchase was valued at approximately $373,000, indicating a positive outlook on the company’s growth potential. Similarly, Ontario Teachers Pension Plan Board also acquired a new position in ON Semiconductor during the same period, demonstrating its belief in the company’s value.

American International Group Inc., an existing investor, increased its stake in ON Semiconductor by 8.1% during the fourth quarter. This move reflects its confidence in the company’s ability to generate returns and deliver shareholder value. American International Group Inc. now holds 132,885 shares of ON Semiconductor’s stock with an estimated value of $8,288,000.

Furthermore, State of Alaska Department of Revenue increased its stake in ON Semiconductor by 0.8% in the first quarter, signaling its ongoing support for the company’s growth trajectory. The State of Alaska Department of Revenue now owns 158,942 shares valued at $13,083,000.

Bank of Hawaii also demonstrated interest and confidence in ON Semiconductor by purchasing a new position worth approximately $389,000 during the first quarter.

These investments collectively represent a significant portion – 96.36%, to be precise – of ON Semiconductor’s stock ownership by hedge funds and institutional investors.

Amidst these investments and modifications in holdings by large institutions lays an equally compelling narrative surrounding analyst ratings on ON Semiconductor. KeyCorp recently increased its target price for ON Semiconductor from $110.00 to $125.00 and gave it an “overweight” rating. Citigroup raised their price objective from $118.00 to $125.00, reiterating a “buy” rating for the company. Robert W. Baird also lifted its target price on ON Semiconductor from $100.00 to $120.00, recommending an “outperform” rating. Needham & Company LLC expressed a similar sentiment, affirming a “buy” rating and issuing a target price of $120.00 for shares of ON Semiconductor.

This positive market sentiment is further reflected in the consensus target price of ON Semiconductor stock, which stands at $109.31 according to Bloomberg’s analysis.

In recent news concerning corporate insiders, Bernard Raymond Colpitts Jr., Chief Accounting Officer of ON Semiconductor, sold 2,795 shares of the company’s stock on September 11th at an average price of $99.18 per share, amounting to a total value of $277,208.10.

Director Christine Y. Yan also sold 3,624 shares on August 17th at an average price of $92.16 per share, totalling a transaction value of $333,987.84.

Overall, corporate insiders have sold 59,378 shares over the last 90 days with a total value of $6,030,709.

Shares of ON Semiconductor opened at $94.60 on Tuesday with a market capitalization of approximately $40.85 billion and a PE ratio of 21.65. The company has shown strong financial health with a current ratio of 2.39 and a quick ratio of 1.60.

Moreover, it possesses a favorable debt-to-equity ratio of just 0.37 reflecting its prudent financial management practices.

The stock has displayed steady growth trends by maintaining a 50-day simple moving average rate of $98.24 and a 200-day simple moving average rate at $88.24.

ON Semiconductor Corporation has experienced significant volatility in the past year as its stock has surged from a 12-month low of $54.93 to reach a 12-month high of $111.35.

Given the company’s solid financials, positive market sentiment, and investor trust demonstrated by notable institutions and analysts, ON Semiconductor aims to continue its upward trajectory in the semiconductor industry with its innovative solutions and commitment to shareholder value.