[Zacks] ON Semiconductor Corp. (NASDAQ:ONNN) recently entered into a strategic partnership with Transphorm, a company engaged in the development and marketing of modular power conversion products. Transphorm is also known for its progress in developing and bringing to market gallium nitride (GaN) solutions. The two companies will create and market GaN based products for a range of high power industrial, computing, telecom and networking applications. The interest in GaN stems from its efficiency in power conversion, especially at higher frequencies, which in turn helps to save costs. You can read the whole article here.
Taking a look at the company’s recent performance, ON Semiconductor Corp. (ONNN) reported second quarter earnings for fiscal 2014 on July 31th . The company reported actual earnings per share of $0.20 against the consensus Street estimate of $0.19. This represents year over year growth of 35.0%. ON posted revenue of $757.60 million against estimates of $753.28 million. ON is currently valued at $3.87 billion and closed the last trading session at $8.51.
Is this a Buying Opportunity?
There are currently fifteen analysts that we track that cover the stock. Of those fifteen, nine have a Buy rating, four have a Hold rating and two have a Sell rating. On a consensus basis this yields a score of 2.47 and a Hold. The most recent analyst activity consisted of JPMorgan Chase & Co downgrading their Neutral stance on the company. On the date of the report, the stock closed at $9.47. Another research firm weighing in recently was Robert W. Baird who also downgraded their rating on the stock. On September 10th Robert W. Baird downgraded their price target on the stock from $11.00 to $10.00. On the day of the report, ONNN shares closed at $9.69.
ON Semiconductor Corp. (NASDAQ:ONNN) designs, manufactures, and markets semiconductor components for electronic systems and products worldwide. It operates in three segments: Application Products Group, Standard Products Group, and System Solutions Group. The Application Products Group segment provides analog, mixed-signal, and advanced logic application specific integrated circuit and application specific standard product solutions; and offers solutions for voltage and current options, as well as foundry and manufacturing services, including integrated passive devices technology, integrated circuit (IC) design, packaging, and silicon technology offerings.