Silverback Asset Management Exits Position in ON Semiconductor Corp (ON)

ON Semiconductor Corp (ON) : Silverback Asset Management has sold out all of its stake in ON Semiconductor Corp during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 97,600 shares of ON Semiconductor Corp which is valued at $985,760.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in ON in the latest quarter, The investment management firm added 178,680 additional shares and now holds a total of 2,485,331 shares of ON Semiconductor Corp which is valued at $25,101,843. ON Semiconductor Corp makes up approx 0.03% of Schwab Charles Investment Management Inc’s portfolio.Robecosam Ag boosted its stake in ON in the latest quarter, The investment management firm added 116,000 additional shares and now holds a total of 1,075,500 shares of ON Semiconductor Corp which is valued at $10,862,550. ON Semiconductor Corp makes up approx 0.93% of Robecosam Ag’s portfolio.Riverpoint Capital Management reduced its stake in ON by selling 5 shares or 0.02% in the most recent quarter. The Hedge Fund company now holds 21,545 shares of ON which is valued at $217,605. ON Semiconductor Corp makes up approx 0.02% of Riverpoint Capital Management’s portfolio.Huntington National Bank reduced its stake in ON by selling 694 shares or 34.2% in the most recent quarter. The Hedge Fund company now holds 1,335 shares of ON which is valued at $13,617.

ON Semiconductor Corp opened for trading at $10.79 and hit $11.02 on the upside on Thursday, eventually ending the session at $10.99, with a gain of 1.76% or 0.19 points. The heightened volatility saw the trading volume jump to 26,70,701 shares. Company has a market cap of $4,567 M.

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 Longbow to ” Buy” on Aug 24, 2016. ON Semiconductor Corp was Upgraded by Pacific Crest to ” Overweight” on Jun 13, 2016. Credit Agricole Initiated ON Semiconductor Corp on May 25, 2016 to “Outperform”, Price Target of the shares are set at $11.

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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