BeaconEquity.com announces the publication of ‘ON Semiconductor Corp. (ONNN) Shares Surge 20% on High Q1 Profits and Q2 Revenue Forecasts’
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In the article the author covers the semiconductor industry and ON Semiconductor’s foothold in the market:
“Semiconductors play a vital role in modern technology. The present framework of the technological sector treats semiconductor as an indispensable component in the manufacturing process of devices ranging from computers to cell phones to digital audio players. According to a report in Electronics.Ca Publications, worldwide semiconductor revenue is expected to grow by 2.4 percent in 2008 to $261.9 billion; and 7.4 percent in 2009. For 2010, revenue is expected to break through the $300 billion barrier reaching $308.8 billion.
“ON Semiconductor Corporation (ONNN) has positioned itself to capitalize on the booming industry, engaging in the design, manufacture and marketing of power and data management semiconductors, and for standard semiconductor components worldwide.
“The company recently released first-quarter results, surpassing Wall Street expectations and sending shares up the chart. After the announcement, shares of ON Semiconductor surged $1.59, or 20 percent, to $9.40.
“First-quarter sales of $421.9 million were about $35 million above estimates. The company also forecast strong second quarter revenue growth, projecting $545 million to $560 million in sales for the second quarter, while analysts expect $400.6 million, according to Thomson Financial …”
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