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ON Semiconductor misses 3Q profit forecasts(Associated Press Via Acquire Media NewsEdge) PHOENIX (AP) _ ON Semiconductor Corp. (ONNN) on Thursday reported net income of $41.6 million in its third quarter. The Phoenix-based company said it had profit of 9 cents per share. Earnings, adjusted for one-time gains and costs, were 21 cents per share. The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. The chipmaker posted revenue of $833.5 million in the period, topping Street forecasts. Analysts expected $810.6 million, according to Zacks. For the current quarter ending in December, ON Semiconductor said it expects revenue in the range of $835 million to $875 million. ON Semiconductor shares have fallen nearly 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.01, a rise of 15 percent in the last 12 months. This story was generated by Automated Insights using data from Zacks Investment Research. ONNN stock research report from Zacks. Keywords:ON Semiconductor,Earnings Report |