Needham & Company Maintains a 'Buy' on ON Semi (ONNN); Clearing the Decks
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Price: $11.70 --0%
Rating Summary:
7 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
7 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Needham & Company maintains a 'Buy' on ON Semi (NASDAQ: ONNN) price target lowered $1 to $9.00.
Needham analyst says, "ONNN reported Q3 results that were in line with consensus however the Q4 guide was lower due to a combination of the impact of the Sanyo (N/R) facility, flooding in Thailand, as well as general macro headwinds and what management believes to be an inventory correction. The end markets that continue to hold the most promise for near-term demand remain Automotive as well as the white goods side of Consumer; this is contrasted by the widespread fears over the Industrial weakness. We reduced our revenue and GM assumptions resulting in lowering our 2011 revenue/EPS from $3.56B/$0.97 to $3.43B/$0.81 and our 2012 revenue/EPS from $3.60B/$1.10 to $3.35B/$0.75."
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 $7.09 yesterday.
Needham analyst says, "ONNN reported Q3 results that were in line with consensus however the Q4 guide was lower due to a combination of the impact of the Sanyo (N/R) facility, flooding in Thailand, as well as general macro headwinds and what management believes to be an inventory correction. The end markets that continue to hold the most promise for near-term demand remain Automotive as well as the white goods side of Consumer; this is contrasted by the widespread fears over the Industrial weakness. We reduced our revenue and GM assumptions resulting in lowering our 2011 revenue/EPS from $3.56B/$0.97 to $3.43B/$0.81 and our 2012 revenue/EPS from $3.60B/$1.10 to $3.35B/$0.75."
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 $7.09 yesterday.
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