Muhlenkamp Co Inc buys $11.4 Million stake in ON Semiconductor Corp (ON)

ON Semiconductor Corp (ON) : Muhlenkamp Co Inc scooped up 1,290 additional shares in ON Semiconductor Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,268,990 shares of ON Semiconductor Corp which is valued at $11.4 Million.ON Semiconductor Corp makes up approximately 4.90% of Muhlenkamp Co Inc’s portfolio.

Other Hedge Funds, Including , Spark Investment Management boosted its stake in ON in the latest quarter, The investment management firm added 594,000 additional shares and now holds a total of 981,800 shares of ON Semiconductor Corp which is valued at $8.8 Million. ON Semiconductor Corp makes up approx 0.90% of Spark Investment Management’s portfolio.Todd Asset Management reduced its stake in ON by selling 54,215 shares or 1.51% in the most recent quarter. The Hedge Fund company now holds 3,528,193 shares of ON which is valued at $31.6 Million. ON Semiconductor Corp makes up approx 0.98% of Todd Asset Management’s portfolio.Ssi Investment Management Inc boosted its stake in ON in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 15,812 shares of ON Semiconductor Corp which is valued at $141,517. ON Semiconductor Corp makes up approx 0.04% of Ssi Investment Management Inc’s portfolio.

ON Semiconductor Corp opened for trading at $9.11 and hit $9.25 on the upside on Friday, eventually ending the session at $9.19, with a gain of 1.77% or 0.16 points. The heightened volatility saw the trading volume jump to 33,01,984 shares. Company has a market cap of $3,811,920 M.

On the company’s financial health, ON Semiconductor Corp reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.20. The company had revenue of $817.20 million for the quarter, compared to analysts expectations of $854.25 million. The company’s revenue was down -6.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.

ON Semiconductor Corporation offers a portfolio of analog digital and mixed signal ICs image sensors and custom devices for customers to solve their design challenges in electronic systems and products. The company operates through four segments: Application Products Group designs and develops analog mixed-signal and logic ASIC and ASSP solutions for end-users in the automotive consumer electronics computing industrial communications medical and military/aerospace markets. Image Sensor Group designs and develops CMOS and CCD image sensors and image processors for end-users in the automotive industrial consumer electronics wireless medical and military/aerospace markets. Standard Products Group offers discrete and integrated semiconductor products that perform multiple application functions. System Solutions Group designs and develops analog and mixed signal ICs DSPs analog and digital tuners intelligent power modules memory and discrete semiconductors.

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