Needham & Company Reiterates a 'Buy' on Intersil (ISIL); Industrial Brightness?
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Price: $22.49 --0%
Rating Summary:
6 Buy, 9 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 9 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Intersil (NASDAQ: ISIL) price target of $13.00.
Needham analyst says, "ISIL reported Q3 revenue that was just shy of consensus with EPS that came in ahead on better than expected GM and OPEX levels. The Q4 guide was for revenue to decline in the range of 9-13% Q/Q, slightly worse than its peers and 12% below consensus. Though the turns requirement is up from 28% to 35%, it is obvious that the channel inventory is lean and some end segments – especially Industrial – are certainly shipping below consumption levels. ISIL has enough secular drivers in its Industrial category (automotive and surveillance primarily driven by Techwell) to guide for modest Q/Q growth. Though street estimates are due for a revision, ISIL shares will respond favorably to this “purge” guide. We would not wait for the dust to settle near-term before building or adding to positions as we feel the shares are likely to dip downward over the next couple of weeks. We adjusted our 2011 revenue/EPS estimates (including SOE) from $784M/$0.65 to $764M/$0.67 and our 2012 revenue/EPS from $852M/$0.85 to $801M/$0.75."
For more ratings news on Intersil click here and for the rating history of Intersil click here.
Shares of Intersil closed at $11.69 yesterday.
Needham analyst says, "ISIL reported Q3 revenue that was just shy of consensus with EPS that came in ahead on better than expected GM and OPEX levels. The Q4 guide was for revenue to decline in the range of 9-13% Q/Q, slightly worse than its peers and 12% below consensus. Though the turns requirement is up from 28% to 35%, it is obvious that the channel inventory is lean and some end segments – especially Industrial – are certainly shipping below consumption levels. ISIL has enough secular drivers in its Industrial category (automotive and surveillance primarily driven by Techwell) to guide for modest Q/Q growth. Though street estimates are due for a revision, ISIL shares will respond favorably to this “purge” guide. We would not wait for the dust to settle near-term before building or adding to positions as we feel the shares are likely to dip downward over the next couple of weeks. We adjusted our 2011 revenue/EPS estimates (including SOE) from $784M/$0.65 to $764M/$0.67 and our 2012 revenue/EPS from $852M/$0.85 to $801M/$0.75."
For more ratings news on Intersil click here and for the rating history of Intersil click here.
Shares of Intersil closed at $11.69 yesterday.
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