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On Semiconductor (ONNN - Analyst Report) remains focused on its power management portfolio, showcasing a number of energy efficient solutions for computers at the Intel Developer Forum (IDF) held from September 11 to 13 in San Francisco.

The new next generation products that ON displayed at the IDF consisted of a silicon controlled rectifier and fully programmable Lithium-Ion (Li-Ion) switching battery charger, which takes less time to charge and improves the overall battery life of smartphones, tablets and other handheld portable devices. ON also showcased power controllers for both desktop and notebook applications, as well as other energy efficient products.

The new product launches target the ongoing demand for energy-efficient, high-performance devices. The world is moving toward green technology, so demand for devices that can do more using less power will continue to escalate.

On Semi’s product portfolio covers all the critical subsystems found in desktops, servers, notebooks and tablet computers that include central processing unit (CPU) power delivery, thermal management, power conversion in conventional power supplies, adapters, clock generation and distribution, high-speed interface switching and protection.

IDC expects the smartphone market to double in 2012 while the portable PC market grows 31.0% from 2011. As per research conducted by BI Intelligence, the smartphone market may cross 1.5 billion units per year by 2016.

Therefore it is apparent that the smartphone and portable PC markets will see very strong growth, which will boost ON Semi’s power management business.

ON Semi reported revenues of $744.8 million in the second quarter of fiscal 2012, flat sequentially and down 17.8% year over year and in the middle of management’s guidance range of $720.0-760.0 million, or down 1-6% sequentially.

On a pro forma basis, the company reported a net income of $51.1 million, or a 6.9% net income margin compared to $52.4 million, or 6.8% in the previous quarter and $113.2 million or 13.0% in the first quarter of 2012.

Currently, On Semiconductor has a Zacks #4 Rank implying a Hold rating in the short-term (1-3 months).

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