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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- ON Semiconductor Corporation (Nasdaq: ONNN) hit a new 52-week high Tuesday as it is currently trading at $8.72, above its previous 52-week high of $8.71 with four million shares traded as of 11:46 a.m. ET. Average volume has been 7.3 million shares over the past 30 days. ON Semiconductor has a market cap of $3.86 billion and is part of the technology sector and electronics industry. Shares are up 21.4% year to date as of the close of trading on Monday. ON Semiconductor Corporation designs, manufactures, and markets semiconductor components for electronic systems and products worldwide. The company operates in three segments: Application Products Group, Standard Products Group, and SANYO Semiconductor Products Group.