ON Semiconductor posted fourth-quarter earnings of 17 cents a share. Analysts surveyed by Thomson Reuters eexpected earnings of 14 cents a share for the quarter ended in December. The semiconductor maker reported revenue of $718 million in the quarter, beating analysts' estimates of $691.3 million.
"With a strong design win pipeline across multiple segments and with substantial progress in previously announced restructuring measures, we believe we are well-positioned to deliver strong operational results for 2014," CEO Keith Jackson said in a press release.
ON Semiconductor said it expects revenue of between $695 million and $725 million for the first quarter. Analysts estimate revenue of $682.7 million.
TheStreet Ratings team rates ON SEMICONDUCTOR CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about its recommendation:
"We rate ON SEMICONDUCTOR CORP (ONNN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."