Market Overview

UPDATE: Wedbush Securities Reiterates Outperform Rating, Raises PT on ON Semiconductor Corp.

Related ONNN
Baird Downgrades 4 Semiconductor Stocks
ON Semiconductor Reports Solid Quarter; Analysts Share Mixed Views

In a report published Friday, Wedbush Securities reiterated its Outperform rating on ON Semiconductor Corp. (NASDAQ: ONNN), and slightly raised its price target from $8.00 to $9.00.

Wedbush Securities noted, “We maintain our upbeat view on ON Semiconductor (ONNN) following our meeting with CEO Keith Jackson and CFO Bernard Gutmann at the Consumer Electronics Show (CES) in Las Vegas, NV. Management reiterated that its plan to ‘fix' Sanyo remains on track and, while visibility is low with lead times of just 8 weeks, Q1 revenue should be in line with seasonal patterns with Q2 potentially being the turnaround quarter that the semiconductor industry has been patiently waiting for.”

ON Semiconductor Corp. closed on Thursday at $7.63.

Latest Ratings for ONNN

DateFirmActionFromTo
Sep 2014BairdDowngradesOutperformNeutral
Aug 2014JefferiesMaintainsHold
May 2014Evercore PartnersInitiates Coverage onUnderweight

View More Analyst Ratings for ONNN
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (ONNN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters