ON Semiconductor (ONNN) is +3%, and hit a new 52-week high after FBR Capital Markets gave it an...

ON Semiconductor (ONNN) is +3%, and hit a new 52-week high after FBR Capital Markets gave it an Outperform rating. FBR is especially upbeat about the $373M buyout of a chip-making unit of Sanyo Electric (OTC:SANYY), given the 'operational support' Sanyo management will offer.