Boston, MA 11\/04\/2013 (wallstreetpr) –\u00a0<\/b>ON Semiconductor Corp (NASDAQ:ONNN) reported its latest earnings data last week, posting $0.17 a share, coming a head of Thomson Reuters estimate of $0.16 by $0.01. However, the revenue fell below expectations at $715.40 million against $716.32 million that Wall Street wanted. In Q3.12, ONNN earned $0.12 a share. It therefore means that the company has added $0.05 to its per share earning one year on. Revenue for this quarter fell 1.4% from the prior year. Wall Street now expects the semiconductor manufacturer to earn $0.54 a share for F2013.<\/p>\n
Following these encouraging figures, the stock traded on the positive end of things, gapping up a whopping 6.59% on Friday to close north $7.52. It was a day of high activity which saw the $3.38 billion capped company double its daily average volume. So far, the ONNN has a year\u2019s low of $5.70 against a high of $8.73.<\/p>\n
In a research note to investors released at the close of last week\u2019s trading, analysts at Morgan Stanley cut their price target on the stock to $6.50 from $7 in the previous report. This new price indicates a potential downside of $13.56% on the company\u2019s stock considering the previous session\u2019s closing. The rating agency has an underweight rating on ONNN.<\/p>\n
So far, 17 equities researchers studying the stock have issued their sentiments about its financial future. This reveals one sell rating, four hold rating and 12 buy rating. On average the company has a consensus buy and price objective of $8.98. Among the rating agencies that have echoed their sentiments on the stock are Zacks with neutral and $7.50 PT, Wedbush with outperform with $8 PT and Raymond James with outperform and $8 PT. The semiconductor company has received price cuts from Morgan Stanely, Wedbush and Raymond James.<\/p>\n
The Phoenix-based company designs, makes and sales semiconductor components for various electronic products and systems.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 11\/04\/2013 (wallstreetpr) –\u00a0ON Semiconductor Corp (NASDAQ:ONNN) reported its latest earnings data last week, posting $0.17 a share, coming a head of Thomson Reuters […]<\/p>\n","protected":false},"author":15,"featured_media":12243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[601,3989,3840,441],"stock_ticker":[],"class_list":["post-12242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nasdaqonnn","tag-on-semiconductor-corp","tag-on-semiconductor-corp-nasdaqonnn","tag-onnn","entry"],"acf":[],"yoast_head":"\n