Goldman Sachs Group, Inc. reiterates a "neutral" rating on ON Semiconductor Corporation (ON.US), with focus on demand and inventory signals in the future.

Goldman Sachs Group, Inc. has released a research report, reaffirming a "neutral" rating on ON Semiconductor Corporation (ON.US) with a target price of $60. The rating is based on ON Semiconductor Corporation's latest quarterly financial performance. Data shows that the company achieved earnings per share of $0.53 in the second quarter, in line with analysts' expectations; while quarterly revenue of $1.47 billion slightly exceeded the market's expectation of $1.45 billion. Analysts at Goldman Sachs Group, Inc. pointed out that investor expectations were already low before the earnings report, and market positioning strategies were generally cautious. The research report predicts that the stock price of ON Semiconductor Corporation may show a "mild pullback" after the earnings report is released. Goldman Sachs Group, Inc. emphasized that investors should focus on the company management's interpretation of trends in orders from the industrial and automotive sectors, potential pre-positioning of demand, and forward-looking statements on channel inventory.