Control Devices Inc

ON Semiconductor (ONNN) Given “Buy” Rating by Deutsche Bank (DB) Analysts

Equities research analysts at Deutsche Bank (NYSE: DB) reiterated a “buy” rating on shares of ON Semiconductor (NASDAQ: ONNN) in a research note to investors on Friday. The analysts currently have a $15.00 price target on the stock.

Separately, analysts at Susquehanna initiated coverage on shares of ON Semiconductor in a research note to investors on Friday. They set a “neutral” rating on the stock. Also, analysts at Goldman Sachs (NYSE: GS) raised their EPS on shares of ON Semiconductor in a research note to investors on Friday, May 6th. They now have a “buy” rating and a $12.00 price target on the stock.

Shares of ON Semiconductor traded down 1.03% during mid-day trading on Monday, hitting $11.515. ON Semiconductor has a 52 week low of $6.07 and a 52 week high of $11.95. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $9.92. The company has a market cap of $5.121 billion and a price-to-earnings ratio of 17.37.

ON Semiconductor last announced its quarterly results on Thursday, May 5th. The company reported $0.27 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.20 EPS by $0.07. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 50.30% on a year-over-year basis. On average, analysts predict that ON Semiconductor will post $0.31 EPS next quarter.

ON Semiconductor Corporation (ON Semiconductor) is a global supplier of power, analog, digital signal processing, mixed signal, advanced logic, data management semiconductors, memory and standard semiconductor components, and integrated circuits. The Company designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products. Its power management semiconductor components control, convert, protect and monitor the supply of power to the different elements within a range of electronic devices. The Company’s data management semiconductor components provide high-performance clock management and data flow management for precision computing and communications systems. On November 4, 2009, it completed the purchase of PulseCore Holdings (Cayman) Inc. (PulseCore). On January 27, 2010, it completed the purchase of California Micro Devices Corporation (CMD).

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Lutron Electronics Files New 337 Complaint Regarding Certain ...

On May 16, 2011, Lutron Electronics Co., Inc. (“Lutron”) filed a complaint requesting that the ITC commence an investigation pursuant to Section 337.

The complaint alleges that the following entities (collectively “Proposed Respondents”) unlawfully import into the U.S., sell for importation, and/or sell within the U.S. after importation certain lighting control devices including dimmer switches and parts thereof that infringe U.S. Patent Nos. 5,637,930 (the ‘930 patent) and/or 5,248,919 (the ‘919 patent) (collectively, the “asserted patents”):

According to the complaint, the ‘930 patent relates to a dimmer product with a switching control sized and arranged relative to the dimming control so that the switching function is emphasized over the dimming function.  The ‘919 patent relates to a dimmer switch with multiple fade-rate capability, to allow for a longer time from the tap of an on-off button to a lamp turning fully off.

The complaint alleges that Elemental LED and the three Proposed Respondents located in China manufacture, import, and/or sell infringing lighting control devices and/or components, while the remaining Proposed Respondents import, distribute, and/or sell infringing devices.  The complaint specifically identifies a number of allegedly infringing products provided by the various Proposed Respondents.

As to related litigations, the complaint states that on May 16, 2011, concurrently with the filing of this complaint, Lutron brought an action for infringement of the ‘930 patent against Pass & Seymour, AH Lighting, American Top Electric Corp., Big Deal Electric Corp., Diode LED, Elemental LED, and Westgate, and for infringement of the ‘919 patent against Westgate in the United States District Court for the Central District of California.  Further, on July 24, 2009, the ITC instituted Investigation No. 337-TA-681 based on a complaint filed by Lutron alleging violations of Section 337 by reason of infringement of the ‘930 patent by Neptun Light, Inc, and that investigation was terminated based on a consent order.  On May 11, 2009, the ITC instituted Investigation No. 337-TA-676 based on another complaint filed by Lutron alleging Section 337 violations by reason of infringement of the ‘930 and ‘919 patents by Universal Smart Electric Corp, which likewise terminated based on a consent order.  On March 2, 2007, Lutron brought an action against Leviton Manufacturing Co. (“Leviton”) in the United States District Court for the Eastern District of Texas, (Civil Action No. 9:07-CV-43) for Leviton’s alleged infringement of the ‘930 and ‘919 patents, which was dismissed based on settlement.  On April 5, 2007, the ITC instituted Investigation No. 337-TA-599 based on a Complaint filed by Lutron alleging violations of Section 337 by reason of infringement of the ‘930 and ‘919 patents, and/or additional U.S. Patent Nos. 5,982,103 and 5,905,442 by Leviton and Control4 Corporation, which was terminated based on a settlement with Leviton and withdrawal of the Complaint as to Control4.  On June 4, 2003, Lutron brought an action for infringement of the ‘930 and ‘919 against Cooper Industries, Ltd. in the United States District Court for the Eastern District of Pennsylvania (Case No. 2 :03 CV 03479), which was dismissed based on settlement.

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Control Devices, Inc., Labor Productivity Benchmarks and International Gap Analysis

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Management control systems

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