Collins Stewart Reiterates ON Semiconductor (ONNN) Buy Rating

Collins Stewart analyst John Vinh reiterated his Buy rating for shares of ON Semiconductor Corporation (Nasdaq: ONNN), with a target price of $10.

After attending ON Semiconductor's analyst meeting last Friday, Vinh gained more confidence in the company's ability to sustain revenue growth.

The Collins Stewart analyst noted that ON Semiconductor, "expects to see growth across all of its market segments including Standard Product, Automotive and Power Group, Computing and Consumer, Digital and Mixed Signal with proprietary products expected to grow faster than standard products."

ON Semiconductor increased its quarterly target model from $525 million revenue to $600 million.