Needham & Company Reiterates a 'Buy' on ON Semi (ONNN); Setback from Flooding in Thailand
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Price: $11.70 --0%
Rating Summary:
7 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on ON Semi (NASDAQ: ONNN) price target lowered from $12 to $10.
Needham analyst says, "ONNN has announced that the flooding in Thailand has significantly impacted its Sanyo (N/R) facility located in Rojana Industrial Park. The wafer probe, test and assembly operations have been suspended at the plant, and ONNN continues to assess the scale of the impact while shifting production to its other facilities. We had been expecting a negative preannouncement out of ONNN in light of the soft macro environment and use this news as an overdue opportunity to adjust our model downward (with the bulk adjustment made to Sanyo derived Consumer revenue). Our 2011 estimates are lowered from $3.60B/$1.00 to $3.56B/$0.97. Our 2012 estimates are lowered from $3.84B/$1.30 to $3.6B/$1.10."
For more ratings news on ON Semi click here and for the rating history of ON Semi click here.
Shares of ON Semi closed at $7.31 yesterday.
Needham analyst says, "ONNN has announced that the flooding in Thailand has significantly impacted its Sanyo (N/R) facility located in Rojana Industrial Park. The wafer probe, test and assembly operations have been suspended at the plant, and ONNN continues to assess the scale of the impact while shifting production to its other facilities. We had been expecting a negative preannouncement out of ONNN in light of the soft macro environment and use this news as an overdue opportunity to adjust our model downward (with the bulk adjustment made to Sanyo derived Consumer revenue). Our 2011 estimates are lowered from $3.60B/$1.00 to $3.56B/$0.97. Our 2012 estimates are lowered from $3.84B/$1.30 to $3.6B/$1.10."
For more ratings news on ON Semi click here and for the rating history of ON Semi click here.
Shares of ON Semi closed at $7.31 yesterday.
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