Stanley Druckenmiller is Selling These 5 Stocks

2. ON Semiconductor Corporation (NASDAQ: ON)

Number of Hedge Fund Holders: 44

Percentage Decline in Stake in Q2: 62% 

ON Semiconductor Corporation (NASDAQ: ON) is placed second on our list of 12 stocks Stanley Druckenmiller is selling. The firm operates from Arizona and makes and sells semiconductors. Regulatory filings reveal that Duquesne Capital owned 706,266 shares in the firm at the end of the second quarter of 2021, worth $27 million. This represents 0.77% of the portfolio. The fund has trimmed stake in the company by 62% compared to the filings for the first quarter of the year. 

On August 6, investment advisory Jefferies reiterated a Buy rating on ON Semiconductor Corporation (NASDAQ: ON) stock and raised the price target to $53 from $51, appreciating the reveal of the new 2025 operating model of the company. 

At the end of the second quarter of 2021, 44 hedge funds in the database of Insider Monkey held stakes worth $1 billion in ON Semiconductor Corporation (NASDAQ: ON), up from 41 in the previous quarter worth $1.2 billion.