Intersil (ISIL) PT Bumped to $22 at Stifel
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Stifel analyst Tore Svanberg bumped the price target on Intersil (NASDAQ: ISIL) to $22.00 (from $21.00) following results but maintained a Hold rating.
Svanberg commented, "Revenue of $139.0mn (up 3.8% q/q) was above the midpoint of the company’s guidance range of $135.0mn-$140.0mn (up 0.7% to 4.5% q/q). Non-GAAP gross margin was 60.7%, up 112bps q-q. Non-GAAP operating expenses totaled $48.7mn, down 5.6% q/q. As a result, operating margin was 25.7%, up 458bps q-q and non-GAAP EPS came in at $0.22 per share, beating company guidance of $0.18-$0.20. Due to Intersil’s definitive agreement to be acquired by Renesas Electronics, the company is neither providing 4Q16 guidance nor holding an earnings conference call this quarter. We are, however, raising our estimates slightly on higher revenue run-rate and margins."
Shares of Intersil closed at $22.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Jefferies Cuts Price Target on PG&E Corp. (PCG) to $65 Following Rate Case Decision
- Mizuho Securities Adjusts Estimates Following Gap, Inc. (GPS) Comp Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesStifel, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!