Even in a rough tape for semiconductors as a group, ON Semiconductor's (NASDAQ:ON) performance has been noticeably worse. The shares basically tracked the PHLX Semiconductor Index for most of the past year, but weak results in the third quarter led to a deeper plunge that has the shares down more than a third over the last year, and the brief rally in the wake of the bid for Fairchild (NASDAQ:FCS) proved fleeting.
I'm of two minds on ON Semiconductor at this point. The shares look cheap by the metrics I use, but this is starting to remind me more than a little bit of Atmel (NASDAQ:ATML) - a company with good technology and...
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