FBR Out With Note On Semis (QCOM, ONNN, ATML, IRF)

FBR Capital Markets is out with a research note on the semiconductor industry. In the report it includes companies like QUALCOMM, Inc.

and ON Semiconductor Corp.

. In the research note, FBR writes, "Despite recent investor concern about possible production start cuts, or handset build forecast cuts, we expect Qualcomm's calendar 3Q results and calendar 4Q guidance to be robust given a) the overall strength of the smartphone market; b) Android-based smartphones' performance in particular and Qualcomm's high baseband market share of android-based smartphones; c) recent channel checks that Qualcomm is likely beginning to ship product into upcoming iPhones, an incremental share driver; and d) other anecdotal channel checks from front-end and back-end production suppliers." Shares of QCOM are up 53 cents to $45.86, a gain of 1.2%.