ON Semi rallies following bullish management comments

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.

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Comments (1)
  • Philip Marlowe
    , contributor
    Comments (1571) | Send Message
    If you are looking for a value pick that is geared to automotive semiconductor demand, check out ISSI. Little known company that makes memories for cars. It trades barely above book value and is poised to do very well as the amount of electronics in cars skyrockets.
    8 Jan 2014, 12:50 PM Reply Like
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