Intersil Now Covered by Analysts at Piper Jaffray (ISIL)

Share on StockTwits

Piper Jaffray started coverage on shares of Intersil (NASDAQ: ISIL) in a research report released on Monday morning, TheFlyOnTheWall.com reports. The firm issued an overweight rating and a $10.50 price objective on the stock.

“New management likely catalyst for ISIL shares. In our view, ISIL was poorly managed over the last 5 years. The lack of leadership is reflected in the share price, the decline in earnings and a number of unfortunate acquisitions. While a transformation will take time, a new CEO, Necip Sayiner, started on 3/14/13. We believe he will be a positive catalyst for change based on his track record at SLAB. A pragmatist, we believe he and his team will identify products, markets and opportunities that will stabilize revenue and profitability. Prior to his arrival, Intersil underwent a restructuring in Q1:13, reducing its workforce by 18% and lowering expenses by $28M.,” Piper Jaffray’s analyst commented.

Shares of Intersil (NASDAQ: ISIL) opened at 8.26 on Monday. Intersil has a 52 week low of $6.31 and a 52 week high of $10.97. The stock’s 50-day moving average is currently $8.3. The company’s market cap is $1.051 billion.

A number of other firms have also recently commented on ISIL. Analysts at TheStreet downgraded shares of Intersil from a hold rating to a sell rating in a research note to investors on Wednesday, May 1st. Separately, analysts at Credit Suisse cut their price target on shares of Intersil from $8.50 to $8.00 in a research note to investors on Thursday, April 25th. They now have a neutral rating on the stock. Finally, analysts at UBS AG cut their price target on shares of Intersil from $8.75 to $7.75 in a research note to investors on Thursday, April 25th. They now have a neutral rating on the stock.

Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $8.53.

Intersil Corporation designs, develops, manufactures and markets analog and mixed-signal integrated circuits (NASDAQ: ISIL).

The Fly On The Wall

Latest News

Sony Says Losses Will Reach $2 Billion
Sony Says Losses Will Reach $2 Billion
UK Inflation Drops During August
UK Inflation Drops During August
Lufthansa and Air France Hit By Pilot Strikes
Lufthansa and Air France Hit By Pilot Strikes
Coalition Wants to Counter Airbnb Sharing Campaign
Coalition Wants to Counter Airbnb Sharing Campaign
Olive Garden Investor Says Stop the Breadsticks
Olive Garden Investor Says Stop the Breadsticks
Hewlett-Packard Fined For Bribery
Hewlett-Packard Fined For Bribery


Leave a Reply

 
 
© 2006-2014 Ticker Report. Google+.