Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

ON Semiconductor Catching Bids On Improving 2014 Sentiment

There have been multiple false dawns in the chip sector, but it looks like investors are positioning themselves for a better 2014. ON Semiconductor (ONNN) is benefiting from that trend, as the shares are up about one-quarter from November and have beaten both the S&P 500 and Nasdaq since I wrote favorably on the shares in mid-August.

Multiple things should go right for the company in 2014, as weaker markets like computing should be close to stabilizing and the company leverages opportunities to go up-market in industrial, communications, and autos. ON Semiconductor's efforts to fix the problem-child that is SANYO should also start to pay off in a more meaningful way. Clearly there are a lot of "shoulds" there, but...

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