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

September 20, 2016 6:34 AM EDT
Get Alerts ON Hot Sheet
Price: $13.23 -0.23%

Rating Summary:
    10 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
Trade ON Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Definitive Agreement

Add Your Comment