Zacks Investment Research Downgrades Intersil Corp. (ISIL) to Sell
Intersil Corp. (NASDAQ:ISIL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Intersil Corporation is a leader in the design and manufacture of high-performance analog semiconductors. The Company’s products address some of the industry’s fastest growing markets, such as, flat panel displays, cell phones, other handheld systems, and notebooks. Intersil’s product families address power management functions and analog signal processing functions. Intersil products include ICs for battery management, hot-swap and hot-plug controllers, linear regulators, power sequencers, supervisory ICs, bridge drivers, PWM controllers, switching DC/DC regulators and power MOSFET drivers; optical storage laser diode drivers; DSL line drivers; video and high-performance operational amplifiers; data converters; interface ICs; analog switches and multiplexers; crosspoint switches; voice-over-IP devices; and ICs for military, space and radiation-hardened applications. “
Several other research analysts have also issued reports on the stock. Stifel Nicolaus lowered shares of Intersil Corp. from a “buy” rating to a “hold” rating and increased their price target for the stock from $20.00 to $21.00 in a research report on Tuesday, September 6th. They noted that the move was a valuation call. TheStreet raised shares of Intersil Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 24th. MKM Partners raised their price objective on shares of Intersil Corp. from $15.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Deutsche Bank AG raised their price objective on shares of Intersil Corp. from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Finally, Citigroup Inc. raised their price objective on shares of Intersil Corp. from $11.50 to $13.50 and gave the stock a “sell” rating in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Intersil Corp. currently has an average rating of “Hold” and an average target price of $18.00.
Intersil Corp. (NASDAQ:ISIL) opened at 21.91 on Wednesday. The stock’s 50 day moving average price is $19.44 and its 200 day moving average price is $14.94. Intersil Corp. has a 12-month low of $10.67 and a 12-month high of $22.76. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 57.36 and a beta of 1.29.
Intersil Corp. (NASDAQ:ISIL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Intersil Corp. had a net margin of 9.92% and a return on equity of 7.49%. The firm earned $134.01 million during the quarter, compared to analyst estimates of $133.44 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Intersil Corp. will post $0.67 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in ISIL. BlackRock Institutional Trust Company N.A. boosted its position in shares of Intersil Corp. by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,793,830 shares of the company’s stock worth $50,724,000 after buying an additional 162,448 shares in the last quarter. Hermes Investment Management Ltd. boosted its position in shares of Intersil Corp. by 12.6% in the second quarter. Hermes Investment Management Ltd. now owns 1,586,329 shares of the company’s stock worth $21,479,000 after buying an additional 177,431 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Intersil Corp. during the second quarter worth $137,000. Bank of New York Mellon Corp boosted its position in shares of Intersil Corp. by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 2,021,142 shares of the company’s stock worth $27,367,000 after buying an additional 34,001 shares in the last quarter. Finally, HBK Investments L P purchased a new position in shares of Intersil Corp. during the first quarter worth $751,000. 92.30% of the stock is currently owned by hedge funds and other institutional investors.
Intersil Corp. Company Profile
Intersil Corporation is engaged in designing and developing power management and precision analog integrated circuits (IC). The Company provides power management and precision analog technology for applications in the infrastructure, industrial, automotive, military, aerospace, computing, and consumer markets.
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