Goldman Sachs Downgrades Intersil (ISIL) to Sell, Sees 14% Downside

Goldman Sachs downgraded Intersil (NASDAQ: ISIL) from Neutral to Sell with a price target of $9, suggesting 14% downside.

The firm sees structural challenges leading to stock underperformance in 2012. The firm notes that sales and earnings growth has lagged peers over the past three years despite acquisitions.

While the management has done well with cost controls and returning cash to shareholders via its 4.6% dividend yield, Goldman expects competitive pressures to weigh on the stock.

For an analyst ratings summary and ratings history on Intersil click here. For more ratings news on Intersil click here.

Shares of Intersil closed at $10.44 yesterday.

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