This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Intersil, SunPower: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Intersil (ISIL - Get Report) gained ground in late trades on Monday despite news that the Milpitas, Calif.-based chip maker has lowered its revenue outlook for the third quarter, citing weak demand across all of its end markets.

The company now sees revenue of $184 million to $188 million for the three months ending in September vs. a previous projection of $205 million to $213 million. The current average estimate of analysts polled by Thomson Reuters is for revenue of $209 million.

"We believe this is the result of broad-based economic weakness, along with some excess inventory consumption," said Dave Bell, the company's president and CEO, in a statement. "However, we now see signs that inventory is stabilizing, with bookings likely recovering to consumption rates during the remainder of the third quarter."

The stock was last quoted at $11.25, up 5.6%, on volume of nearly 260,000, according to Based on Monday's regular session close at $10.66, the shares were down nearly 32% so far in 2011.

The current consensus estimate is for a profit of 16 cents a share in the third quarter for Intersil, which has topped Wall Street's expectations in the past four quarters. Wall Street was bearish ahead of the news with 16 of the 21 analysts covering the stock at either hold (15) or sell (1), although the median 12-month price target of $14 implied upside of more than 25% from recent levels.

The company plans to release its results after the closing bell on Oct. 26.


Another stock enjoying a surge in after-hours action was SunPower (SPWRB), whose Class B stock rose more than 10% on news of a proposal to reclassify the company's class A and B common shares as a single issue on a one-for-one basis.

The company said its board has authorized the proposal and plans to recommend its approval to shareholders. The new stock would have "same voting powers, preferences, rights and qualifications, limitations and restrictions as the current SunPower Class A common stock," the company said.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ITMN $73.89 -0.03%
ISIL $15.96 2.30%
TOT $52.90 -1.40%
AAPL $129.08 0.48%
FB $79.74 0.98%


DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.26 +12.76 0.61%
NASDAQ 5,007.9570 +44.43 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs