Intersil Corp. (ISIL)

• By Ken Nagy
• On 1:00 am EDT, Thursday October 29, 2009

Intersil Corporation (NasdaqGS: ISIL - News) is an OEM of analog and mixed signal semiconductor ICs. September quarter results beat consensus estimates on both the top and bottom lines. Forward guidance is for 3% revenue growth in the fourth quarter.

We expect an unfavorable mix of business through 2009, although management initiatives are likely to mitigate the impact. Management expressed confidence that the bottom is behind it, and judging from the increasing order rates and growing backlog, we are inclined to agree.

Since shares are still going rather cheap, we encourage investors to accumulate them. We are raising our rating from Neutral to Outperform.

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