ResearchCows
Long/short equity

ON Semiconductor: Playing On Its Strengths

ON Semiconductor (ONNN) is an original equipment manufacturer (OEM) that mainly produces analog semiconductors that are used in varied end markets. It manufactures a wide range of discrete and embedded semiconductor components. The company was spun off from Motorola in August 1999, and in May 2000 went public.

(click to enlarge)

Results

The results for 1Q2013 were in line with the laid down guidance, affected by lukewarm demand in China and a weakness in the European market. The company posted earnings of $0.10 per share in 1Q2013. Revenues for the quarter were down by 2.8% QoQ to $661 million, 11.2% down YoY.

Margins

The GAAP gross margin for 1Q2013 was 30.9% QoQ flat and YoY down 2.00%. The Non-GAAP gross...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details