UPDATE: Stifel Reiterates On Intersil Following Management Meetings

In a report published Monday, Stifel analyst Tore Svanberg reiterated a Buy rating on Intersil (NASDAQ: ISIL), and raised the price target from $16.00 to $19.00.

In the report, Stifel noted, “Near term, we believe the company is seeing solid demand across all of its three primary end markets, including computing, consumer and industrial & infrastructure.

"We note that the company had guided for June quarter revenue to come in between $144-$150mn (or 5% q/q at the mid-point) and Non-GAAP EPS to come in between $0.17-$0.19 and while management has not updated its guidance, based on our current analysis of industry dynamics, we believe Intersil is likely tracking in-line or potentially above our current $147mn revenue and $0.18 Non-GAAP EPS estimates.”

Intersil closed on Friday at $15.82.