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To: Sonny Blue who wrote (12676)	7/12/2002 11:33:16 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 57684

11-Jul-02 Intersil (ISIL) 17.97 +1.01: Shares of Intersil have been on both sides of the fence today. Just off the open, ISIL made it onto the ever more populated '52-week lows' list. Yet at this point in the session, ISIL has turned around as one of the day's 'leading point gainers'. While there is undoubtedly risk in any new long position, Intersil is a company with improving operational metrics as well as a reasonable valuation. The company makes high-speed wireless local area network (WLAN) chipsets and other integrated circuits, primarily for the communications and computing markets. It currently has a solid leadership position in the WLAN market with more than 60% market share for the current generation of products called 802.11b chipsets. It's also notable that despite the adverse market conditions, management has increased the profitability of its analog business with gross margins of 54.4% in the first quarter versus 50.1% margins in the year-ago period. With its recent acquisition of Elantec, Intersil has entered new growth areas such as flat panel displays and optical storage. From a fundamental perspective, ISIL trades at 26.8x current year estimates and carries a forward multiple of 17.9x. With projected earnings growth in the ballpark of 46% for fiscal year 2003, we view the risk/reward proposition as favorable near current levels. -- Mike Ashbaugh, Briefing.com