Oppenheimer Rates Intersil Corporation (ISIL) A Buy
March 23, 2010 9:48 AM
Oppenheimer analysts Rick Schafer, Daniel Morris and Shawn Simmons rated shares of Intersil Corporation (Nasdaq: ISIL) a Buy rating with a price target of $20.
The analysts released their report after Intersil Corporation announced that it had reached a deal to acquire Techwell, Inc. (Nasdaq: TWLL) for $370 million.
The analysts said that Techwell's analog/digital hybrid video solutions were well positioned to bridge the gap between analog and digital surveillance systems.
The analysts recommended buying shares of Intersil Corporation on any deal-related weakness.
The Oppenheimer analysts wrote, "legacy analog (90% share) dominates Surveillance, but the future is digital--its 0% share forecast to grow meaningfully over the next 3-4 years. TWLL appears well positioned with a hybrid solution to compete through the transition, although its current 70% market share has likely peaked as competition from TXN and CNXT looms."
