Intersil (ISIL +7.3%) is sharply higher after JPMorgan argues the recent resignation of CEO...

|About: Intersil Corporation (ISIL)|By:, SA News Editor

Intersil (ISIL +7.3%) is sharply higher after JPMorgan argues the recent resignation of CEO David Bell "could be a good development" if it leads the analog chipmaker to lower its cost structure - Intersil announced a restructuring in May that led to the elimination of 11% of its workforce. JPM is still reiterating an Underweight, citing Intersil's share losses in a weak PC market and the possibility its high payout ratio will force a dividend cut (current yield is 6.3%).