ON Semiconductor upgraded to Buy from Neutral at Sterne Agee Sterne Agee sees further upside for On Semiconductor driven by rationalizing fab capacity, improving end markets, strong free cash flow, and improving margins. Price target is $9.
ON Semiconductor rallies after unveiling new auto focus technology ON Semiconductor announced earlier today that it has successfully demonstrated its second generation Phase Detect Auto Focus, PDAF, technology featuring a unique pixel micro-lens technology that enables fast focus at 25 Lux light levels. This unique technology has been successfully implemented on a 13 megapixel test chip with 1.1 micron pixels and will be utilized in a new product introduction for mobile end-market customers later this year. Shares of ON Semiconductor are higher by over 5% in morning trading.