Intersil Corp. (NASDAQ:ISIL) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 3,364,804 shares, an increase of 27.9% from the August 31st total of 2,630,612 shares. Based on an average trading volume of 10,375,056 shares, the days-to-cover ratio is currently 0.3 days. Approximately 2.5% of the shares of the stock are short sold.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Intersil Corp. by 0.7% in the first quarter. Meeder Asset Management Inc. now owns 59,246 shares of the company’s stock valued at $792,000 after buying an additional 399 shares in the last quarter. Credit Agricole S A acquired a new position in shares of Intersil Corp. during the first quarter valued at $842,000. Picton Mahoney Asset Management acquired a new position in shares of Intersil Corp. during the first quarter valued at $1,888,000. JPMorgan Chase & Co. boosted its position in shares of Intersil Corp. by 16.6% in the first quarter. JPMorgan Chase & Co. now owns 346,612 shares of the company’s stock valued at $4,635,000 after buying an additional 49,353 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Intersil Corp. by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,793,830 shares of the company’s stock valued at $50,724,000 after buying an additional 162,448 shares during the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Intersil Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley downgraded Intersil Corp. to a “neutral” rating and set a $22.50 price objective on the stock. in a report on Monday, September 19th. Citigroup Inc. raised Intersil Corp. from a “sell” rating to a “neutral” rating and raised their price objective for the company from $13.50 to $22.50 in a report on Wednesday, September 14th. Deutsche Bank AG lowered Intersil Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Finally, Drexel Hamilton lowered Intersil Corp. from a “buy” rating to a “hold” rating and raised their target price for the stock from $19.00 to $22.50 in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.00.
Shares of Intersil Corp. (NASDAQ:ISIL) opened at 21.91 on Friday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 57.36 and a beta of 1.29. The company has a 50-day moving average price of $19.44 and a 200-day moving average price of $14.94. Intersil Corp. has a 12 month low of $10.67 and a 12 month high of $22.76.
Intersil Corp. (NASDAQ:ISIL) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business had revenue of $134.01 million for the quarter, compared to analysts’ expectations of $133.44 million. Intersil Corp. had a net margin of 9.92% and a return on equity of 7.49%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. On average, equities analysts anticipate that Intersil Corp. will post $0.67 EPS for the current year.
About Intersil Corp.
Intersil Corporation is engaged in designing and developing power management and precision analog integrated circuits (IC). The Company provides power management and precision analog technology for applications in the infrastructure, industrial, automotive, military, aerospace, computing, and consumer markets.
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