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ON Semiconductor (ON) Stock Gains as Q2 Results Beat Expectations

NEW YORK (TheStreet) -- Shares of ON Semiconductor (ON) were advancing late Monday morning after the company reported better-than-anticipated results for the 2016 second quarter.

On Saturday, the Phoenix-based chipmaker posted adjusted earnings of 21 cents per diluted share, above analysts' forecasts of 19 cents per share.

Revenue for the period was $877.8 million, topping Wall Street's estimates of $854.6 million.

"Our execution momentum continued in the second quarter with strong revenue growth and margin expansion," CEO Keith Jackson said in a...