ON Semiconductor (ON): Accretive FCS Acquisition Closes Bringing Focus To Post Synergy EPS - Mizuho
- Wall Street flat as countdown to Trump's swearing-in begins
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- CP's (CP) Outgoing CEO Hunter Harrison, Activist Paul Hilal Said Set to Target CSX Corp. (CSX)
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.
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
- Netflix (NFLX) PT Raised to $150.00 at BMO Capital; Keeps 'Market Perform'
- UPDATE: SunTrust Robinson Humphrey Starts Rockwell Collins (COL) at Hold
- Netflix (NFLX) PT Raised to $165.00 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!