Deutsche Bank Drops PT To $15 On ISIL

Deutsche Bank, citing guidance into 3Q11, is lowering its price target from $17 to $15 on Intersil ISIL, In the report, Deutsche Bank writes, “Intersil delivered solid 2Q11 results but 3Q11 guidance is well below DB/Street pointing to more cautious view by customers ahead of 2H11. Despite the lower guidance ISIL expects GM to remain stable and recent acquisitions Techwell and Zilker Labs are making meaningful contributions to revenue growth. We lower our P/T to $15 but maintain our Buy rating as we believe the company is poised to deliver better revenue growth going forward and the 3.8% dividend yield adequately compensates investor patience.” Deutsche Bank is maintaining a Buy rating on the stock. ISIL closed at $12.09 yesterday.