ON Semiconductor Corp (NASDAQ:ONNN)’s Q2 net profit has soared


Dallas, Texas 08/05/2013 (Financialstrend) – During the last trading session, the stock of ON Semiconductor Corp (NASDAQ:ONNN) was closed up at + 1.29% with the total number of 6,916,677 shares being traded. This upward trend was noticed after the introduction of the simple, space saving ‘integrated record’ and a ‘playback device’ for the purpose of the applications of portable mp3. At present, the stock of ON Semiconductor Corp is up by + 45.16% from the stock’s lowest price during the period of 52-week at recent times. And, this has led to the inclusion of the stock of ON Semiconductor Corp into the NASDAQ Gainers Watch List by the Growing Stock Report.

During last week, the second quarter earnings were reported by ON Semiconductor Corp. These results produced by ON Semiconductor Corp have beaten on the basis of per share. However, these results have found to come up quite short on the top line. The net profit generated by ON Semiconductor Corp has soared when compared to the previous year’s result on the smaller impairments along with the lower costs. Moving forward, ON Semiconductor Corp is planning to lower the guidance provided and also the company expects to generate the revenue between the values of $ 700 million and $ 730 million during the third quarter. However, per the analysts’ expectations, the revenue for the third quarter would be lying around the value of $ 737 million. From the second quarter results, it could be observed that the gross margin has been narrowed down from 34.7% to 33.7%.

At present, the stock of ON Semiconductor Corp can be found to have the 12-month lowest price of $ 5.70 for each share while the 12-month highest price is remaining at $ 8.73. The 50-day moving average of the company’s stock is $ 8.07 at present while the market capitalization of the company is $3.669 billion.