First Mercantile Trust Co Lowers stake in ON Semiconductor Corp (ON)

ON Semiconductor Corp (ON) : First Mercantile Trust Co reduced its stake in ON Semiconductor Corp by 6.23% during the most recent quarter end. The investment management company now holds a total of 136,338 shares of ON Semiconductor Corp which is valued at $1,674,231 after selling 9,056 shares in ON Semiconductor Corp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.ON Semiconductor Corp makes up approximately 0.22% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added ON to its portfolio by purchasing 81,070 company shares during the most recent quarter which is valued at $995,540. ON Semiconductor Corp makes up approx 0.13% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ON in the latest quarter, The investment management firm added 6,076 additional shares and now holds a total of 8,330 shares of ON Semiconductor Corp which is valued at $103,292. Eqis Capital Management sold out all of its stake in ON during the most recent quarter. The investment firm sold 21,239 shares of ON which is valued $263,364. Washington Trust Bank added ON to its portfolio by purchasing 65 company shares during the most recent quarter which is valued at $806.

ON Semiconductor Corp closed down -0.15 points or -1.21% at $12.28 with 32,71,622 shares getting traded on Friday. Post opening the session at $12.4, the shares hit an intraday low of $12.16 and an intraday high of $12.43 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, ON Semiconductor Corp reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.24. The company had revenue of $877.80 million for the quarter, compared to analysts expectations of $892.13 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on ON Semiconductor Corp. ON Semiconductor Corp was Upgraded by Morgan Stanley to ” Equal-Weight” on Sep 22, 2016. Deutsche Bank Resumed ON Semiconductor Corp on Sep 20, 2016 to “Buy”, Price Target of the shares are set at $15.Company shares were Reiterated by Stifel on Sep 20, 2016 to “Buy”, Firm has raised the Price Target to $ 15 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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