Frank, Rimerman Advisors 13F: Exits ON Semiconductor (ON) Stake

Frank, Rimerman Advisors completely exited its investment in ON Semiconductor Corporation ON, parting ways with all 6,086 shares it held. The move was made public in a Form 13F filing submitted to the Securities and Exchange Commission on October 16, 2026. Keep in mind that 13F filings are backward-looking documents that capture portfolio snapshots from the close of a previous period and might not reflect the fund's current holdings today.

Inside Frank, Rimerman Advisors's ON Semiconductor Trade

The fund sold off its entire stake of 6,086 shares, bringing its ending share count down to zero. Because this transaction represents a complete exit from the semiconductor maker, there is no remaining position left on the books.

Other Institutional Activity in ON Semiconductor

Other major institutional managers adjusted their portfolios around the chipmaker during the period. FMR, LLC reduced its holdings by 1,477,177 shares, ending with 56,679,393 shares valued at about $4,082,049,693. Blackrock Inc. grew its holdings by 1,069,618 shares, ending with 40,980,739 shares worth about $2,951,432,685. Vanguard Capital Management LLC trimmed its stake by 17,944 shares to hold 25,616,396 shares valued at roughly $1,844,892,753. Vanguard Portfolio Management LLC cut 423,322 shares from its portfolio, finishing with 19,639,331 shares worth about $1,414,424,552. State Street Corporation lifted its stake by 248,992 shares, leaving it with 18,557,255 shares valued at approximately $1,336,493,442.

ON Semiconductor Corporation Stock Down 1.8%

ON Semiconductor shares recently traded around $72.40. The stock sits below its 50-day moving average of $76.02 and below its 200-day moving average of $81.54. The company has a market capitalization of roughly $28.69 billion and a trailing price-to-earnings ratio of 49.80.

Recent Earnings

ON Semiconductor reported trailing twelve-month revenue of $6.20 billion and earnings of $1.48 per share. The company posted a net profit margin of 10.2% alongside a return on equity of 8.3%. Investors are tracking the company's next earnings report scheduled for November 2, 2026.

Dividend

The company does not pay a dividend to shareholders, meaning its dividend yield and payout ratio stand at zero.

Insider Buying and Selling at ON Semiconductor Corporation

Company insiders executed several transactions prior to the filing. Officer Simon Keeton disposed of 48,860 shares. Officer Sudhir Gopalswamy sold 6,114 shares at an average price of $58.67 for a total value of $358,708 on March 13, 2026. Chief Financial Officer Trent Thad sold 30,000 shares at $80.00 apiece worth $2.40 million on April 16, 2026, and later disposed of 60,000 shares on April 24, 2026.

Analysts Set New Price Targets

Wall Street firms have actively updated their views on the stock. On September 23, 2026, Seaport Global initiated coverage with a buy rating and a $100.00 price target. Wells Fargo maintained an overweight rating on October 2, 2026, raising its target to $100.00 from $85.00. Needham reiterated a buy rating with a $116.00 target on October 2, 2026. Stifel maintained a hold rating on October 5, 2026, lifting its target to $80.00 from $75.00. StoneX initiated coverage with a buy rating and a $110.00 target on October 15, 2026. Overall, the stock carries a consensus buy rating from 27 analysts with a mean price target of $104.67.

About ON Semiconductor Corporation

Based in Scottsdale, Arizona, ON Semiconductor Corporation provides intelligent sensing and power solutions across global markets. The company operates through three key segments: Power Solutions, Analog and Mixed-Signal, and Intelligent Sensing. Its technologies serve automotive, industrial, and communications applications.

Bottom Line

Frank, Rimerman Advisors's decision to close out its ON Semiconductor position highlights how institutional managers shift capital across the technology sector. Investors will watch the upcoming November 2 earnings report for fresh updates on revenue trends. Because 13F reports reflect past holdings, they provide a look backward rather than a real-time pulse on current portfolio choices.