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ON Semiconductor Corporation

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ON Semi is an original equipment manufacturer (OEM) of a broad range of discrete and embedded semiconductor components. ON Semi continues to gain from its strength in automotive and industrial end-markets. The addition of Fairchild’s offerings has expanded its product portfolio. Robust demand, adoption and favorable product mix of the company’s diversified product portfolio are key positives. Notably, estimates have been stable lately ahead of the company’s Q4 earnings release. However, a considerable debt burden and integration risks from company’s acquisitions remain major headwinds. Restructuring activities are anticipated to limit margin expansion. Further, stiff competition remains a woe. Notably, shares of ON Semi have underperformed the industry in the past year.

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