Intersil (ISIL) Management Raises Targets

The management of semiconductor manufacturer Intersil (NASDAQ: ISIL) has raised its financial targets and moved its sales target of $1 billion to 2010, a year ahead of the original plan. Operating margin targets were also raised from 21% to 27%, while gross margin targets were marginally hiked to 58%. An added plus is that 2Q is tracking to expectations.

Analysts at Oppenheimer have reiterated their Outperform rating on the stock as well as the price target of $22. The recent acquisition of Techwell Inc. (NASDAQ: TWLL) will bring rapid margin growth to Intersil, and its presence in the legacy analog and next-gen digital solutions market will prove invaluable.