Malaga Cove Capital Lowers stake in ON Semiconductor Corp (ON)

ON Semiconductor Corp (ON) : Malaga Cove Capital reduced its stake in ON Semiconductor Corp by 4.51% during the most recent quarter end. The investment management company now holds a total of 586,891 shares of ON Semiconductor Corp which is valued at $5,557,858 after selling 27,736 shares in ON Semiconductor Corp , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.ON Semiconductor Corp makes up approximately 4.51% of Malaga Cove Capital’s portfolio.

ON Semiconductor Corp opened for trading at $9.49 and hit $9.7 on the upside on Monday, eventually ending the session at $9.68, with a gain of 2.22% or 0.21 points. The heightened volatility saw the trading volume jump to 59,17,123 shares. Company has a market cap of $3,989 M.

Other Hedge Funds, Including , Rice Hall James Associates boosted its stake in ON in the latest quarter, The investment management firm added 10,508 additional shares and now holds a total of 418,425 shares of ON Semiconductor Corp which is valued at $3,962,485. ON Semiconductor Corp makes up approx 0.23% of Rice Hall James Associates’s portfolio.Curian Capital reduced its stake in ON by selling 39,379 shares or 63.91% in the most recent quarter. The Hedge Fund company now holds 22,236 shares of ON which is valued at $210,575. ON Semiconductor Corp makes up approx 0.02% of Curian Capital’s portfolio. Valley National Advisers Inc sold out all of its stake in ON during the most recent quarter. The investment firm sold 273 shares of ON which is valued $2,684.Bremer Trust National Association boosted its stake in ON in the latest quarter, The investment management firm added 18,275 additional shares and now holds a total of 202,381 shares of ON Semiconductor Corp which is valued at $1,955,000. ON Semiconductor Corp makes up approx 0.56% of Bremer Trust National Association’s portfolio.

On the company’s financial health, ON Semiconductor Corp reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 8, 2016. Analyst had a consensus of $0.18. The company had revenue of $840.30 million for the quarter, compared to analysts expectations of $839.45 million. The company’s revenue was down -2.8 % compared to the same quarter last year.

Many Wall Street Analysts have commented on ON Semiconductor Corp. Shares were Reiterated by Stifel on Feb 9, 2016 to “Buy” and Lowered the Price Target to $ 11 from a previous price target of $12 .Shares were Reiterated by Wedbush on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 12 from a previous price target of $13 .

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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