Markets & Finance

Bear Stearns Ups Intersil to 'Outperform'

Bear Stearns upgraded Intersil (ISIL) to outperform.

Analyst Brian Wu says the market ramp of 802.11g wireless local area networking (WAN) products is likely to be strong in 2003. He says Intersil, one of the first few chip makers to launch these products, is likely to benefit as it distances itself from the competition.

Wu says increasing shipments of PRISM GT for 802.11g and PRISM Duette for 802.11a/b/g is likely to improve the company's product mix, and stabilize its gross margin as aggressive pricing for 802.11b products continues. He thinks 2003 should be a strong year for Intersil. Besides wireless local area networking, market share gains in power management, and the proliferation of DVD-R should drive growth for the company. He sees $0.68 2002 earnings per share, and upped the $0.84 2003 estimate to $0.91.

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