ON Semiconductor's (Nasdaq:ONNN) Sanyo Semiconductor Acquisition Should Deliver $30 Million Quarterly

ON Semiconductor (Nasdaq:ONNN) acquisition should add about $30 million plus quarterly pre-tax revenue to ON Semiconductor (Nasdaq:ONNN), according to Goldman Sachs (NYSE:GS).

The deal, which was completed on January 3, cost ON Semi $522 million total.

Gross margins for the first quarter of 2011 should come in at about 33 percent, and move up incrementally from there throughout 2012.

Goldman raised their full year 2011 and full year 2012 EPS estimates from $1.00 and $1.15 to $1.10 and $1.30.

Goldman maintains their "Buy" rating for ON Semiconductor, which closed Wednesday at $10.29, up $0.06, or 0.59 percent. Goldman raised their price target on them from $10 to $11.