Jefferies Maintains a 'Buy' on ON Semi (ONNN); Q3 Guidance Low; CFO Gone
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Price: $8.27 +2.61%
Rating Summary:
15 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
15 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ONNN Now!
Jefferies maintains a 'Buy' on ON Semi (NASDAQ: ONNN) price target of $9.00 (from $10.00).
Analyst, Mark Lipacis, said, "ONNN posted in-line Q2 EPS, but guided Q3 revs 800bps below consensus, and announced its CFO was resigning. We are buyers of the expected weakness because 1) EV/S of 1.09 is within 10% of 2008 trough, 2) product cycles in notebooks, LED lighting, power modules for industrial applications provide visibility, 3) Cost reductions and share buybacks should drive EPS growth. Our price target assumes 10x 2013 EPS."
FY12 EPS estimate lowered from $0.67 to $0.57 and FY13 from $0.98 to $0.87.
For an analyst ratings summary and ratings history on ON Semi click here. For more ratings news on ON Semi click here.
Shares of ON Semi closed at $6.84 yesterday, with a 52 week range of $6.20-$9.85.
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Analyst, Mark Lipacis, said, "ONNN posted in-line Q2 EPS, but guided Q3 revs 800bps below consensus, and announced its CFO was resigning. We are buyers of the expected weakness because 1) EV/S of 1.09 is within 10% of 2008 trough, 2) product cycles in notebooks, LED lighting, power modules for industrial applications provide visibility, 3) Cost reductions and share buybacks should drive EPS growth. Our price target assumes 10x 2013 EPS."
FY12 EPS estimate lowered from $0.67 to $0.57 and FY13 from $0.98 to $0.87.
For an analyst ratings summary and ratings history on ON Semi click here. For more ratings news on ON Semi click here.
Shares of ON Semi closed at $6.84 yesterday, with a 52 week range of $6.20-$9.85.
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