Jeff Smith’s Top 5 Stock Picks

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In this article, we discuss Jeffrey Smith’s top 5 stock picks. For Smith’s investment philosophy and his comments on particular stocks, please see Jeffrey Smith’s Top 10 Stock Picks.

5. ON Semiconductor Corporation (NASDAQ: ON)

Value: $295,803,000
Percent of Jeffrey Smith’s 13F Portfolio: 7.52%
No. of Hedge Fund Holders: 45

Arizona-based ON Semiconductor is a new addition in Jeff Smith’s Starboard Value’s portfolio. In the fourth quarter, the fund bought 9.01 million shares of the company, worth $295.8 million. The semiconductor company sells products related to signal management, logic, discrete and custom solutions. BofA recently upgraded the stock from Underperform to Buy, citing chances of a turnaround after new management and strong demand from the automobiles sector. The bank also increased its price target for the stock to $48 from $32.

Our database shows that 45 hedge funds held stakes in ON Semiconductor Corp. as of the end of the fourth quarter, versus 29 funds in the third quarter.

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