ON Semi's (NASDAQ:ONNN) Sales May Have Improved in Latter Part of Quarter

ON Semi's (NASDAQ:ONNN) quarterly earnings report shouldn't bring any surprises, as Brigantine say they should come in at expectations, although possibly on the lowered end of sales decline on stronger sales growth in the latter part of the quarter.

Brigantine says, "We expect a solid Q4 report from ON Semiconductor when the company reports results next week. Management had guided sales to decline 3% - 6% sequentially, and we believe the quarter progressed inline with expectations, and estimate sales will decline about 4% Q/Q. Based on our checks, orders may have improved through the course of the quarter as evidence of healthy consumer spending over the Christmas period percolated through the quarter...We remain very optimistic on the contribution from Sanyo, and remain comfortable with our BUY rating on the stock."

Brigantine Advisors maintains a "Buy" rating on ON Semi (ONNN), which was trading at $11.47, up $0.17, or 1.50 percent, as of 2:41 PM EST. Brigantine has a price target of $14 on On Semi.