What Caused to ON's Price Collapse Today?

This morning we watched ON Semiconductor drop -4.0% to a price of $62.07 per share. The large-cap Semiconductors company is now trading -16.11% below its average target price of $73.99. Analysts have set target prices ranging from $55 to $83 per share for ON Semiconductor, and have given the stock an average rating of buy.

ON Semiconductor has an average level of shares sold short, at 6.1% of its total share float. The stock's short ratio (also called days to cover) is 4.72. The company's insiders own 0.38% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Institutional investors own 104.7% of ON Semiconductor's shares, which indicates they have a high level of confidence in the company.

Institutions Invested in ON Semiconductor

Holder Shares Date Reported Percentage Value
Vanguard Group, Inc. (The) 49,912,255 2022-09-29 12% $3,100,050,188
FMR, LLC 45,616,239 2022-09-29 11% $2,833,224,632
Blackrock Inc. 43,088,068 2022-09-29 10% $2,676,199,929
Janus Henderson Group PLC 17,383,115 2022-09-29 4% $1,079,665,283
State Street Corporation 17,129,019 2022-09-29 4% $1,063,883,380
Artisan Partners Limited Partnership 14,869,886 2022-09-29 3% $923,568,628
Geode Capital Management, LLC 9,019,249 2022-09-29 2% $560,185,560
Voya Investment Management LLC 8,766,918 2022-09-29 2% $544,513,282
Wellington Management Group, LLP 8,056,888 2022-09-29 2% $500,413,318
Pictet Asset Management SA 8,028,420 2022-09-29 2% $498,645,171
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.