Jefferies believes Intel Developer Forum has been a positive catalyst for ON Semiconductor Corp. and the company will continue to gain market share as Sandy Bridge ramp progresses.

At the Intel Developer Forum, ON Semiconductor showcased an array of their latest power management and switching solutions for mobile devices such as smartphone and tablet and computing products in desktop, notebook, and server.

ON Semiconductor's product cycle story is playing out as they have gained market share in Sandy Bridge based platforms compared to Arrandale (prior generation Core MPU), driven by their power management solution.

In calendar second quarter of 2011, Sandy Bridge was only 30 percent of notebooks and 50 percent of desktops shipments and we believe ON Semiconductor will continue to gain market share as Sandy Bridge ramp progresses, said Mark Lipacis, an analyst at Jefferies.

At the Forum Booth, ON Semiconductor's representatives demonstrated the following new industry leading products, ESD7008, MG2040 and ESD7104, which provide electrostatic discharge (ESD) protection and offer the industry's lowest capacitance, highest signal integrity and low clamping voltages for high-speed data and high-speed video lines such as USD 3.0, HDMI, DisplayPort and Thunderbolt (Light Peak).

Further ON Semiconductor is offering the latest solutions for PCI Express 3.0 with two new products, NCN3411 and NCN3612B, which provide the industry's first 1.8 volt switch and 8 Gbps bandwidth capability.

Lipacis believes these new industry leading products have design traction with key Taiwanese original equipment manufacturers (OEM), namely Acer and Asus. Lastly, ON Semiconductor has a switching device in the Intel Thunderbolt (Light Peak), which is widely available on Apple Inc.'s Mac line-up and will soon be adopted by both Acer and Asus.

ON Semiconductor stock closed Wednesday's regular trading up 4.89 percent at $7.84 on the NASDAQ Stock Market.