ON Semiconductor (ON): Accretive FCS Acquisition Closes Bringing Focus To Post Synergy EPS - Mizuho

September 20, 2016 6:34 AM EDT
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Price: $11.12 +1.37%

Rating Summary:
    9 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Buy ON Semiconductor (NASDAQ: ON) after the company closed the FCS acquisition, approximately 10 months after the deal was initially announced and one month later than planned. The deal is immediately accretive to non-GAAP EPS.

The combined ON/FCS has a diversified mix with key strength in auto, industrial and communications that can conservatively post ~$1.15 in F17E EPS, with an additional $0.38 of cost synergies incremental for F18E EPS.

No change to the price target of $16.

For an analyst ratings summary and ratings history on ON Semiconductor click here. For more ratings news on ON Semiconductor click here.

Shares of ON Semiconductor closed at $11.52 yesterday.



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