FBR Capital Markets Analyst Christopher Rolland says he and his team are still waiting to see whether the second derivative in the semiconductor cycle is starting to slow, or whether the sector is simply experiencing choppiness at the moment. But, he says so-called supercyclicals have been more impacted than companies like ON Semiconductor Corp (ONNN).
“So ON hasn’t been hit as hard as other supercyclicals, but still has been hit here probably around 6%, something similar to what the SOX has been down during that same period since earnings have begun,” Rolland says.
FOR MORE INFORMATION ON THIS INTERVIEW CLICK HERE.
Meanwhile, he says some stocks in the same areas, like power management, have been down as much as 10%, and some even more.
“So I would say that ON has held up fairly well here, but again, all eyes are on the semiconductor cycle and whether it rolls over or not,” Rolland says. “If there is just a little bit of turbulence, I think ON goes higher, but if it is indeed the end of the semi cycle, it will be tough for them to work through that.”
ON Semiconductor Corp (ONNN) a Good Play on Broad-Based Analog and Power Management
May 30, 2014
Better-than-Expected Returns for Hard Drive Companies
October 21, 2010
Eric Marshall of Hodges Capital is Loving the Hard Asset Stocks
July 13, 2021
Tesla Motors Inc (TSLA) Expected to Hit 25% Gross Margin Target and Introduce More Affordable Generation 3 Vehicle
August 16, 2013
Micron Technology, Inc. (MU) Positioned to Hit 40% Gross Margin
October 16, 2014
