ON Semi rallies following bullish management comments

|About: ON Semiconductor Corporation (ON)|By:, SA News Editor

During talks held at CES, ON Semi (ONNN +3.7%) execs stated their company is seeing above-seasonal trends, particularly from automotive and industrial clients.

Shares of the analog chipmaker have rallied, and are close to their 52-week high of $8.73. The gains come in the wake of a difficult 2013 that saw ON Semi cut jobs and lose analog chip share.

Other chipmakers, includin STMicroelectronics, Analog Devices, and NXP, have also reported seeing strong automotive demand.