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Illinois Municipal Retirement Fund Raises Stake in ON Semiconductor Corporation $ON
The Illinois Municipal Retirement Fund significantly increased its stake in ON Semiconductor (NASDAQ:ON) by 244.3%, acquiring an additional 73,270 shares, bringing its total holding to 103,262 shares valued at $5.09 million. This comes despite recent insider selling by the CEO and CFO, who collectively sold 100,000 shares worth $6.83 million. The company reported a slight beat on Q4 EPS expectations and approved a $6.0 billion stock buyback program, though analysts hold a mixed “Hold” consensus rating with an average price target of $64.19.