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UPDATE: Evercore Group Initiates Coverage On Intersil As Turnaround Story Is Underappreciated


In a report published Wednesday, Evercore Group analyst Michael Lucarelli initiated coverage on Intersil (NASDAQ: ISIL) with an Overweight rating and $16.00 price target.

In the report, Evercore Group noted, “We initiate with an OW and $16 PT. We believe management has laid out a well-balanced strategy to mix stable, higher margin, and sticker industrial / comms revenues with a smattering of consumer / PC revenues, all with the end-goal of delivering operating margin expansion.

"We see potential catalysts on the horizon as the turnaround story goes from a vision to: (1) tangible design wins that (2) unlock leverage, (3) deliver positive EPS revisions, and (4) eventually culminate in multiple expansion. We want to own shares ahead of these tailwinds and build a position strategically, especially if there are any bumps in the turnaround road, which we think the dividend (yield: 3.5%) will help soften. While the stock sits near its 52 week high (like many semi names and the SOX) and +19% YTD (SOX: +10%, NASDAQ: flat), we think the long-term turnaround story is still underappreciated.”

Intersil closed on Tuesday at $13.76.

Latest Ratings for ISIL

Sep 2016DowngradesBuyHold
Sep 2016DowngradesBuyNeutral
Sep 2016UpgradesSellNeutral

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Posted-In: Evercore Group Michael LucarelliAnalyst Color Initiation Analyst Ratings


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