ON Semiconductor Corporation (NASDAQ:ONNN) Builds Upside


Dallas, Texas 01/14/2014 (FINANCIALSTRENDS) – ON Semiconductor Corporation (NASDAQ:ONNN) is the US-based high-end chip maker in a spot of trouble following the acquisition of Japanese SANYO, back in 2011. As the semi-conductor industry and chipmakers in particular strive firmly towards a better 2014, given the increase in the automotive industrial production and appliances, computing domains.

ON Semiconductor Corporation (NASDAQ:ONNN) is a $3.84 billion market cap company with negative EPS of 0.03 and trading 52-week high of $8.75 and $6.80 52-week low. The company volumes are 9.222.053.

ON Semi builds upside

ON Semiconductor Corporation (NASDAQ:ONNN) in the first week of January 2014, saw a rally, following management endorsement of the company’s likely growth in the season. The company registered that the results for the industrial consumer as well as the auto-industry registered a good above-the season high. Investors have since rallied behind this chipmaker.

ON Semiconductor Corporation (NASDAQ:ONNN) in the recent quarters was on much of downside, even registering job cuts and other cost cutting processes to maintain higher operational levels. The company’s main product line is the analog chip industry and the spate of loss in this market share too has affected the overall potential the company holds for the investor. In general, the chipmakers have registered a positive growth in the first few weeks of 2014, with Analog Devices as well as ST Micorelectronics also registering a climb in stock market prices.

The company CEO, Keith Jackson indicated that the fourth quarter revenue guidance would be $675million to $705 million, which would below the estimated consensus of $709.6million. At the time of offering the guidance the CEO had admitted a very unstable market for the products. He explained that the fall in demand for analog products has resulted in the curtailed production. The trend for these products has bucked the trend typical for the system, he opined.