Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why ON Semiconductor Corp. Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our thesis.

What: Shares of ON Semiconductor Corp. (NASDAQ: ONNN  ) rose more than 10% during Friday's intraday trading after the company announced better-than-expected fourth-quarter results.

So what: Quarterly revenue came in at $718 million, which translated to adjusted net income of $0.17 per diluted share. Analysts, on average, were looking for earnings of just $0.14 per share on sales of $691.29 million.

In addition, ON anticipates current quarter revenue of $695 million to $725 million, which is also well above expectations for Q1 sales of only $676.09 million.

Now what: CEO Keith Jackson weighed in: "Business trends during the fourth quarter of 2013 improved significantly with heightened order activity, and the strength has continued thus far in the current quarter. With an improving macro-economic outlook, especially for developed economies, and with favorable supply demand dynamics, we are upbeat on our outlook for 2014."

Even after today's pop, shares are currently only trading for around 10.6 times next year's estimated earnings. Keeping in mind those estimates are likely to increase as analysts have time to fully digest the news, I think ON Semiconductor stock should still be able to reward patient shareholders going forward.

Consider the six amazing growth stocks in this free report
But if ON Semiconductor isn't quite whetting your appetite for growth, you're in luck! They said it couldn't be done. But David Gardner has proved them wrong, time, and time, and time again, with stock returns like 926%, 2,239%, and 4,371%. In fact, just recently, one of his favorite stocks became a 100-bagger. And he's ready to do it again. You can uncover his scientific approach to crushing the market and his carefully chosen six picks for ultimate growth instantly, because he's making this premium report free for you today. Click here now for access.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2829681, ~/Articles/ArticleHandler.aspx, 8/30/2015 6:55:56 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Steve Symington

Technology and consumer goods specialist for the Fool. Steve looks for responsible businesses which positively shape our lives. Then, he invests accordingly. Enjoy his work? Connect with him on Twitter & Facebook so you don't miss a thing.

Today's Market

updated 1 day ago Sponsored by:
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 1.21 0.06%
NASD 4,828.33 15.62 0.32%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
ONNN $0.00 Down +0.00 +0.00%
ON Semiconductor C… CAPS Rating: ****