Intersil Corp (ISIL) is Downgraded by Drexel Hamilton to Hold, Raises Price Target to $ 22.50

Intersil Corp (ISIL) was Downgraded by Drexel Hamilton to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 22.50 from a previous price target of $19 . Earlier the firm had a rating of “Buy ” on the company shares. Drexel Hamilton advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on Intersil Corp. Company shares were Downgraded by Stifel on Sep 7, 2016 to ” Hold”, Firm has raised the Price Target to $ 21 from a previous price target of $20 .Company shares were Reiterated by Deutsche Bank on Aug 23, 2016 to “Buy”, Firm has raised the Price Target to $ 21 from a previous price target of $17 .Company shares were Reiterated by MKM Partners on Jul 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 16 from a previous price target of $15.50 .

On the company’s financial health, Intersil Corp reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.16. The company had revenue of $134.01 million for the quarter, compared to analysts expectations of $133.35 million. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Intersil Corp opened for trading at $19.19 and hit $20 on the upside on Monday, eventually ending the session at $19.76, with a gain of 2.07% or 0.4 points. The heightened volatility saw the trading volume jump to 10,026,632 shares. Company has a market cap of $2,677 M.

In a different news, on May 12, 2016, Andrew Micallef (SVP, WW Operations) sold 4,000 shares at $11.96 per share price. According to the SEC, on May 4, 2016, Richard D Jr Crowley (CFO) purchased 5,000 shares at $11.69 per share price. On May 4, 2016, Roger Wendelken (SVP, Worldwide Sales) purchased 10,000 shares at $11.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Intersil Corporation is engaged in designing and developing power management and precision analog integrated circuits (IC). The Company caters to infrastructure industrial automotive consumer instrumentation and measurement light emitting diode (LED) lighting medical military networking and communications security and surveillance radiation hardened video and computing markets. It supplies a range of power IC solutions for battery management processor power management and display power management including power regulators converters and controllers as well as integrated power modules. The Company also provides precision analog components. The Company’s product groups are power management amplifiers and buffers audio and video data converters end market specific interface optoelectronics space and harsh environment switches/multiplexers (MUXes)/crosspoints timing and digital and other analog.

Intersil Corp

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