Trade: On Semiconductor (ONNN)

Stock Ratings: 1 = buy at current stock prices, 2 = buy on a 5-10% dip in stock price, 3 = sell on a 5-10% increase in stock price, 4 = sell at current stock prices to raise cash.  Ratings are based upon 12-18 month outlook on stock direction and not necessarily related to moves I make due to financial positioning.

Today I bought a small sum of shares of On Semiconductor at $9.60.  At a 6% pullback, I felt I was starting to see value in a stock that has managed through the volatility of the markets which has been brought on by the crash in Oil.  I still feel at this time the company is performing well as it takes the new imaging acquisitions they've closed this year and turn them into increased earnings.  We are also still in what I consider to be a fairly consistent technical uptrend cycle that should last into the February - April timeframe.  My $11 price target is still intact.  I am not saying the stock is done pulling back yet, but felt this was a good price to add on despite my cost basis.  I would buy some more if the stock pulls back near $9.20 or if I've been given a strong enough indicator that the stock has turned around and is still at/below this purchase price.