Intersil Corp. (ISIL) Sees Large Increase in Short Interest
Intersil Corp. (NASDAQ:ISIL) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,364,804 shares, a growth of 27.9% from the August 31st total of 2,630,612 shares. Based on an average daily volume of 10,375,056 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.5% of the shares of the company are short sold.
Several hedge funds have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its stake 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 valued at $50,724,000 after buying an additional 162,448 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Intersil Corp. during the second quarter valued at about $137,000. Hermes Investment Management Ltd. increased its stake 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 valued at $21,479,000 after buying an additional 177,431 shares during the period. Bank of New York Mellon Corp increased its stake 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 valued at $27,367,000 after buying an additional 34,001 shares during the period. Finally, HBK Investments L P bought a new stake in shares of Intersil Corp. during the first quarter valued at about $751,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. B. Riley restated a “buy” rating and set a $17.50 price target on shares of Intersil Corp. in a research note on Friday, July 29th. MKM Partners assumed coverage on Intersil Corp. in a report on Friday, June 24th. They set a “neutral” rating and a $15.50 price objective on the stock. Zacks Investment Research lowered Intersil Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Stifel Nicolaus lowered Intersil Corp. from a “buy” rating to a “hold” rating and upped their price objective for the stock from $20.00 to $21.00 in a report on Tuesday, September 6th. They noted that the move was a valuation call. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Intersil Corp. in a report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.00.
Shares of Intersil Corp. (NASDAQ:ISIL) opened at 22.09 on Wednesday. The stock has a 50 day moving average price of $20.02 and a 200 day moving average price of $15.15. Intersil Corp. has a 12 month low of $10.67 and a 12 month high of $22.76. The stock has a market capitalization of $2.99 billion, a P/E ratio of 57.83 and a beta of 1.28.
Intersil Corp. (NASDAQ:ISIL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $134.01 million for the quarter, compared to the consensus estimate of $133.44 million. Intersil Corp. had a return on equity of 7.49% and a net margin of 9.92%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. On average, analysts anticipate that Intersil Corp. will post $0.67 EPS for the current fiscal year.
About Intersil Corp.
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.
Receive News & Stock Ratings for Intersil Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intersil Corp. and related stocks with our FREE daily email newsletter.